EUR/USD: US ISM Non-Manufacturing PMI

The European Common Currency traded sideways against the US Dollar, following the US ISM Non-Manufacturing PMI data release on Wednesday at 14:00 GMT. The EUR/USD exchange currency rate lost 5 pips or 0.04% right after the release. The Euro continued trading at 1.1295 the level against the Greenback.

Institute for Supply Management released the US ISM Non-Manufacturing PMI data , which came out worse-than-expected of 55.1 compared with the forecast of 56.1.

According to the official release: "The NMI registered 55.1 percent, which is 1.8 percentage points lower than the May reading of 56.9 percent. This represents continued growth in the non-manufacturing sector, at a slower rate. This is the index's lowest reading since July 2017, when it registered 55.1 percent. According to the NMI, 16 non-manufacturing industries reported growth. Although the non-manufacturing sector's growth rate dipped in June, the sector continues to reflect strength. The comments from the respondents reflect mixed sentiment about business conditions and the overall economy. A degree of uncertainty exists due to trade and tariffs."