The euro traded around the $1.165 mark on Thursday, remaining in a narrow range since the start of the week and holding most of its rally this year as markets continued to gauge how the Eurozone and US economies are adapting to fiscal and monetary policy shifts. Fresh PMI data suggested that the Euro Area underwent a broad expansion in activity during August. The survey showed that both new orders and price gauges rose in the period, strengthening the case for less rate cuts by the ECB with ESTR futures pointing to abroad consensus of one rate cut this year. The developments supported the currency after the EU Commission struck a trade deal with the US that prevented the 30% tariff rates by Trump, settling for the base-level of 15%. The euro rallied 11% against the dollar this year as EU nations signaled they will increase expenditure to stimulate industry, infrastructure, and defense, while uncertain economic policy and fiscal stress in the US triggered a flight away from the dollar.