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The Greenback strengthened against the Eurozone's single currency, following US ISM Non-Manufacturing PMI data release on Tuesday. The EUR/USD currency pair lost only five pips, or 0.05%, to continue fluctuating in the 1.1665 area.
The Institute for Supply Management released Purchasing Managers Index data that came out better-than-expected of 58.6, compared to the 56.8 in the previous period. Yohay Elam, Economic Event Analyst explains:
"A better ISM Non-Manufacturing PMI could resume the broader uptrend of the greenback and turn the recent slide into just another correction, blip, or dead cat bounce in the greater scheme of things."
| Historical Data Table: US ISM Non-Manufacturing PMI | Economic Calendar for 06.06.2018 | ||||||||
| Date | 05.02.2018 | 06.03.2018 | 04.04.2018 | 03.05.2018 | 06.06.2018 | 12:30 PM | CAD Trade Balance | ||
| Actual | 59.9 | 59.5 | 58.8 | 56.8 | 58.6 | 12:30 PM | CAD Building Permits m/m | ||
| Forecast | 56.5 | 58.9 | 59 | 58.1 | 57.9 | 12:30 PM | US Trade Balance | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/USD | 0.76021 | 0.76004 | -0.02% | AUD/USD | 71.34% | 28.66% | |||
| EUR/USD | 1.16676 | 1.16621 | -0.05% | EUR/USD | 60.83% | 39.17% | |||
| USD/JPY | 109.769 | 109.816 | 0.04% | USD/JPY | 49.23% | 50.77% | |||
| NZD/USD | 0.70055 | 0.70032 | -0.03% | NZD/USD | 52.64% | 47.36% | |||