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EUR/USD Slips, Losses Minimal

While EUR/USD fell a little during Monday’s trading, the drop was very small and not nearly enough to compensate the Friday’s jump due to the poor GDP report. Now, traders are bracing themselves for nonfarm payrolls released on August 5 and potential impact of the employment data on markets.

Markit manufacturing PMI was at 52.9 in July, up from 51.3 in the preceding month, according to the revised estimate. The actual reading was the same as the preliminary estimate and analysts’ expectations. (Event A on the chart.)

ISM manufacturing PMI declined to 52.6% in July from June’s 53.2% whereas experts had anticipated the index to remain basically unchanged. (Event B on the chart.)

Construction spending fell 0.6% in June from May while analysts had promised an increase by 0.5%. The previous month’s reading received a big positive revision from -0.8% to -0.1%. (Event B on the chart.)

EUR/USD as of 2016-08-01

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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