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.)
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