Euro stumbles around one and half week low after manufacturing data turns bleak

Euro slipped today, sliding well under 1.1800 mark against the US dollar after economic data painted a tepid picture for manufacturing sector in the region. The eurozones manufacturing sector suffered a setback at the end of the year, latest HCOB PMI data showed, with production levels decreasing for the first time since last February. The HCOB Eurozone Manufacturing PMI, a measure of the overall health of the eurozone manufacturing sector compiled by S&P Global, declined in December to 48.8, from 49.6 in November, taking it further below the 50.0 no-change mark. Furthermore, the final month of the year brought with it the lowest reading of the headline index since March 2025. EUR/USD pair fell after this and tested one and half week lows. It currently quotes at 1.1754, down 0.22% on the day. On NSE, EUR/INR futures are trading flat at 106, easing from around 106.20 mark on a repeated basis today.

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