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EUR/USD Rises a Little

EUR/USD rose today, but the gains were limited. US economic data released during the current session was mixed, with manufacturing reports being good while construction spending being surprisingly poor. Interestingly enough, the currency pair trimmed gains after the poor report, not the good ones.

Markit manufacturing PMI rose to 51.3 in June from 50.7 in May according to the final estimate. The actual reading was not far from the analysts’ forecast and the preliminary estimate of 51.4. (Event A on the chart.)

ISM manufacturing PMI climbed from 51.3% in May to 53.2% in June whereas experts had anticipated the index to stay unchanged. (Event B on the chart.)

Construction spending fell 0.8% in May from April instead of rising by 0.6% as was promised by analysts. The indicator was down 2.0% in April. (Event B on the chart.)

EUR/USD as of 2016-07-01

If you have any comments on the recent EUR/USD action, please reply using the form below.

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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