EUR/USD: US ISM Non-Manufacturing PMI

The European Common Currency appreciated against the US Dollar, following the US ISM Non-Manufacturing PMI survey results release on Wednesday at 15:00 GMT. The EUR/USD exchange currency rate gained 16 pips or 0.14% right after the release. The Euro continued trading at the 1.1090 level against the Greenback.

The Institute for Supply Management released the US ISM Non-Manufacturing PMI data, which came out worse-than-expected of 53.9 compared with the forecast of 54.5.

Anthony Nieves, the Chair of the Institute for Supply Management Non-Manufacturing Business Survey Committee commented: "The NMI registered 53.9 percent, which is 0.8 percentage points lower than the October reading of 54.7 percent. This represents continued growth in the non-manufacturing sector, at a slightly slower rate. According to the NMI, 12 non-manufacturing industries reported growth. The non-manufacturing sector had a slight pullback in November. The respondents hope for a resolution on tariffs and continue to be hampered by constraints in labor resources. "