EUR/USD: US ISM Manufacturing PMI

The Euro traded sideways against the US Dollar, following the US ISM Manufacturing PMI survey results release on Monday at 14:00 GMT. The EUR/USD exchange currency rate gained 5 pips or 0.04% after the release. The Euro continued trading at the 1.1740 level against the Greenback after the release.

The Institute for Supply Management released the US ISM Manufacturing PMI survey results, which came out better-than-expected of 54.2 compared with the forecast of 53.6.

According to the official release: "In July, manufacturing continued its recovery after the disruption caused by the coronavirus (COVID-19) pandemic. Panel sentiment was generally optimistic (two positive comments for every one cautious comment), continuing a trend from June. Demand expanded, with the (1) New Orders Index growing at a strong level, supported by the New Export Orders Index re-entering expansion; (2) Customers' Inventories Index remaining at a level considered a positive for future production, and (3) Backlog of Orders Index returning to expansion for the first time in five months."