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US PMI Reports Push EUR/USD Down on Year’s First Trading Session

The euro was falling against the US dollar during the entire day today. The positive macroeconomic reports that have been released from the USA have pulled the currency pair even deeper.

Markit manufacturing PMI rose to 54.3 according to its final report for December. That’s slightly better than 54.2 of the preliminary report. (Event A on the chart.)

ISM manufacturing PMI rose from 53.2 to 54.7 in December. The median forecast for this indicator had been at 53.8. (Event B on the chart.)

US construction spending rose by 0.9% in November following a growth by 0.6% in October (revised from 0.5%). Market strategists expected it to grow by 0.5% in November. (Event B on the chart.)

On Friday, the Chicago PMI report has shown a fall from 57.6 to 54.6 in December. The expectation had been for a slight drop to 56.8. (Not shown on the chart.)

EUR/USD as of 2017-01-03

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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