EUR/USD: US ISM Manufacturing PMI

The Euro depreciated against the US Dollar, following the US ISM Manufacturing PMI release on Monday at 14:00 GMT. The EUR/USD currency pair lost 11 pips or 0.10% right after the release. The Euro continued trading at the 1.1225 level against the US Dollar.

The Institute for Supply Management released the US ISM Manufacturing PMI, which came better-than-expected of 55.3 compared to the forecast of 54.5.

Timothy R. Fiore, the Chair of the Institute for Supply Management, commented: "This indicates growth in manufacturing for the 31st consecutive month. The PMI reversed a February expansion decline primarily through improved growth in employment and, to a lesser extent, new orders."