• EUR/USD raises sharply to near 1.0500 as upbeat Eurozone preliminary PMI data for January has strengthened the Euro.
• The ECB is widely anticipated to cut its Deposit Facility rate by 25 bps to 2.75% on Thursday.
• Trump’s call on immediate rate cuts and his soft tone for China have weighed heavily on the US Dollar.

EUR/USD rallies to near the psychological resistance of 1.0500 on Friday as the Hamburg Commercial Bank (HCOB) reported that the Eurozone preliminary Composite Purchasing Managers’ Index (PMI) grew in January after shrinking in the last two months. Flash HCOB PMI report, compiled by S&P Global, showed