Home / Forex & Currency Exchange News / EUR/USD Trades in Range During Monday’s Thin Trading

EUR/USD Trades in Range During Monday’s Thin Trading

EUR/USD slipped on Monday but bounced by now. Monday’s trading volumes were light as many markets were closed for a holiday. That explains markets’ muted reaction to reports from the United States, which were pretty bad for the most part.

Personal income and spending missed market expectations in March. Income rose 0.2% instead of 0.4% predicted by analysts. Spending showed no change while forecasters promised an increase by 0.2%. Furthermore, both indicators received a downward revisions of their February readings: from an increase by 0.4% to 0.3% for income, and from a gain by 0.1% to 0.0% (no change) for spending. (Event A on the chart.)

Markit manufacturing PMI fell from 53.3. in March to 52.8 in April according to the final estimate. That was in line with the preliminary estimate and analysts’ forecasts. (Event B on the chart.)

ISM manufacturing PMI dropped from 57.2% in March to 54.8% in April, falling below the median forecast of 56.6%. (Event C on the chart.)

Construction spending fell 0.2% in March from February, frustrating those traders who were counting on a growth by 0.5%. On a more positive note, the February reading got a big upward revision from a 0.8% growth to 1.8%. (Event C on the chart.)

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

Posted on Forex blog. Click Here For Original Source Of The Article

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.

Check Also

Will Jerome Powell Continue Yellen’s Policy or Start a Revolution?

Will Jerome Powell Continue Yellen’s Policy or Start a Revolution?

Jerome Powell was nominated for the position of the US Federal Reserve Chair on November 2. His appointment is still to be approved by the Senate, but there is little doubt that Powell will be the one who takes the most powerful office in the financial industry on February 1.

Trump’s picking Powell …

Leave a Reply

Your email address will not be published. Required fields are marked *

css.php