The EUR/USD Session Looks Unstoppable

The EUR/USD was increasing every single period of the earlier trading week, and it seems like the currency pair is not going to end the session this week as well. The US economic report included fuel to the higher movement as all indicators liberated today were beneath expectations.

Markit manufacturing PMI decreased from 51.5 to 50.8 in April according to the latest projection, which was unaltered from the flash one. That is distinguished to the median projection of 51.0. (Event A on the chart.)

ISM manufacturing PMI indicated the similar exact reading (50.8%) in April, decreasing from the March level of 51.8%. Analysts were wrong in this situation as well, assuring much sophisticated reading of 51.6%. (Event B on the chart.)

Construction spending increased 0.3% in March from February. And yet again forecasters missed the definite figure, anticipating progress in neighborhood of 0.5%. On the positive side, the February adjustment acquired an enormous positive improvement from -0.5% to +1.0%. (Event B on the chart.)

The EUR USD Session Looks Unstoppable

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Mike N

Financial Trading Systems Design Expert

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