EUR/USD: US ISM Manufacturing PMI

The European Common Currency appreciated against the US Dollar, following the US ISM Manufacturing PMI data release on Tuesday at 14:00 GMT. The EUR/USD exchange currency rate gained 20 pips or 0.18% right after the release. The Euro continued trading at the 1.0970 level against the Greenback.

Institute for Supply Management released the US ISM Manufacturing PMI data, which came out worse-than-expected of 49.1 compared to the expectations of 51.2.

 Timothy R. Fiore, Chair of the Institute for Supply Management Manufacturing Business Survey Committee said: "Respondents expressed slightly more concern about U.S.-China trade turbulence, but trade remains the most significant issue, indicated by the strong contraction in new export orders. Respondents continued to note supply chain adjustments as a result of moving manufacturing from China. Overall, sentiment this month declined and reached its lowest level in 2019."