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  • Eurozone flash Manufacturing PMI arrives at 46.9 for June vs. 44.5 expected.
  • The region’s Services PMI stood at 47.3 for June as against 41 anticipated. 

The eurozone economic downturn eased markedly for a second successive month in June, the latest manufacturing activity survey from IHS/Markit research showed on Tuesday

In fact, the Eurozone manufacturing purchasing managers index (PMI) rose further from an all-time low of 13.6 seen back in April and surged to 47.5 in June from 31.9 in May. Meanwhile, while the Services PMI jumped to a 4-month high level of 47.3 as compared to 30.5 in May.

The EUR/USD pair climbed to one-week tops following the upbeat releases, with bulls still awaiting a sustained move beyond the 1.1300 round-figure mark.