EUR/USD: US ISM Manufacturing PMI

The European Common Currency depreciated against the US Dollar, following the US ISM Manufacturing PMI data release on Monday at 14:00 GMT. The EUR/USD exchange currency rate lost 11 pips or 0.10% right after the release. The Euro continued trading at the 1.1200 level against the Greenback.

Institute for Supply Management released the US ISM Manufacturing PMI data, which came out worse-than-expected of 52.1 compared with forecast of 53.0.

According to the official release: "Manufacturing expanded in May, as the PMI registered 52.1 percent, a decrease of 0.7 percentage point from the April reading of 52.8 percent. This is the lowest reading since October 2016 when the index registered 51.7 percent. "This indicates growth in manufacturing for the 33rd consecutive month. The PMI continued a period of expansion softening which began in August 2018. Softening this month was primarily due to inputs — supplier deliveries and inventories. Three of the big six industries expanded," says Fiore."