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% |