Euro to US Dollar (EUR/USD) Exchange Rate Trends Higher after US Data
The Euro to US Dollar (EUR/USD) exchange rate climbed by 0.4% on Monday as the US published a mixed bag of reports.The US ISM Manufacturing Index had been expected to ease to 54.5 in January, but it actually slid to 53.5 from a positively revised 55.1.
The final Markit Manufacturing PMI climbed from 53.7 to 53.9 in January, and construction spending increased by less-than-anticipated.
After all the data was published the Euro to US Dollar (EUR/USD) exchange rate consolidated its earlier gain to trade in the region of 1.1333.
The Euro to US Dollar (EUR/USD) exchange rate advanced by 0.3% on Monday and could extend gains if the US ISM Manufacturing report disappoints.
EUR/USD Exchange Rate Gains Despite German Manufacturing Dip
As a fresh week of trading got underway, the EUR/USD exchange rate climbed in spite of some disappointing manufacturing figures for the Eurozone’s largest economies.French Manufacturing PMI for January was revised from an initial estimate of 49.5 to 49.2, taking it further below the 50 line separating growth from contraction.
Meanwhile, Germany’s final figure slipped slightly from 51 to 50.9.
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