The euro's decline today follows more shocking data from the Eurozone, dimming hopes for growth and fueling expectations of further interest rate cuts from the ECB.
Manufacturing activity contracted faster in Germany, France, and the eurozone, while services activity performed weaker than expected, signaling a pervasive economic downturn.
The report indicated a deterioration in expectations about the future in Germany, as companies expect a decline in output due to fears of recession.
France recorded a performance similar to Germany, but business confidence about future growth improved in September, highlighting a mixed economic sentiment.
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