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EUR/USD Stable After Economic Releases

Markit released Purchasing Mangers’ Indices for both the eurozone and the United States, and almost all of them were better than expectations. Market participants anticipate that the European Central Bank will reduce its asset purchase program this week, but that did not boost EUR/USD so far.

Flash readings for Markit manufacturing PMI and Markit services PMI in October were released today. The manufacturing index rose from 53.1 to 54.5 last month, reaching the highest level in nine months. The services index rose from 55.3 to 55.9. Both indicators exceeded analysts’ projections 53.3 and 55.2 respectively.

Richmond Fed manufacturing index, on the other hand, dropped from 19 in September to 12 in October, below the average forecast of 17.

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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