Technicals/Fundamentals for EURUSD - Little Movement on Weak Euro PMIs

EUR/USD continues to show secondary flat movement this week, and this pair was trading in the mid-1.28 range in European session. Taking a look at today's key events:

• French Manufacturing PMI improved to 48.8 points,
  
• German Manufacturing PMI dipped to 50.3 points.

There are no major releases out of the US. There is increasing talk about the dire straits of the Eurozone economy:

• Eurozone inflation numbers continue to float.
  
• On Friday, German PPI posted a decline of -0.1%. The index has not managed a gain in 2014.
• US Existing Home Sales didn't impress in August, slipping to 5.05 million, compared to 5.15 million in the previous release.

The US economy may be much more robust than that of the Eurozone:

• CPI, the primary gauge of consumer inflation, came in at -0.2%, its first drop since October. The estimate stood at +0.1%.
  
• Core CPI followed suit with a flat reading of 0.0%.
  
• PPI, a key event, dipped to just 0.0%, a 3-month low. The estimate stood at 0.1%.
  
• Core PPI slipped to 0.1%, down from 0.2% a month earlier.