⚡ Euro advances as Eurozone PMIs and Lagarde speeches take focus while Yen stays pressured

The euro is pushing higher against the yen on Monday, with EUR/JPY climbing toward 185.30 and posting gains of 0.16% as traders position ahead of key European economic data. Market focus is centered on the imminent release of preliminary Eurozone HCOB Purchasing Managers Index figures, which will provide fresh insights into the bloc’s economic health across manufacturing and services sectors. Adding to the euro’s momentum are anticipated speeches from European Central Bank President Christine Lagarde, whose commentary could signal the ECB’s policy direction amid persistent inflation concerns. The yen continues to face selling pressure, extending its recent weakness as the Bank of Japan maintains its ultra-loose monetary stance while other major central banks keep rates elevated. Currency traders and European equity investors should monitor the PMI data closely, as any significant deviation from forecasts could trigger volatility in euro crosses and broader risk sentiment.

FXnCO Insight

Watch for EUR/JPY breakouts above 185.30 if PMI data exceeds expectations or Lagarde strikes a hawkish tone on inflation persistence.

Source: FXStreet