The US manufacturing sector continues growing nicely according to the ISM Manufacturing purchasing managers’ index. The figure rose to 54.2 points. Early expectations stood on a small slide from 53.1 to 52.8 points. EUR/USD traded at 1.2988 before the publication. GBP/USD managed to escape 1.50. Will both pairs plunge now that the main data releases are behind us? Update: Yes. EUR/USD is now at 1.2970 and GBP/USD at 1.4985. More economic data: The new orders component rose from 53.3 to 57.8. This is the highest level since April 2011. However, the unemployment component slipped from 54 to 52.6 points. It’s important to note that all figures above 50 indicate growth. Earlier, Markit’s final number for the manufacturing PMI stood on 54.3, lower than the early call of 55.2. No revision was expected. US Construction Spending fell by 2.1%, much worse than a rise of 0.6% that was predicted. The University of Michigan’s consumer confidence index rose to 77.6 from 76.3, above expectations. EUR/USD already dropped below 1.30 earlier, following a wide range of disappointments, especially from Italy. GBP/USD fell towards 1.50 following a terrible manufacturing PMI. Update: EUR/USD touches support at 1.2960 and doesn’t follow through for now. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Forex Weekly Outlook March 4-8 Anat Dror 10 years The US manufacturing sector continues growing nicely according to the ISM Manufacturing purchasing managers' index. The figure rose to 54.2 points. Early expectations stood on a small slide from 53.1 to 52.8 points. EUR/USD traded at 1.2988 before the publication. GBP/USD managed to escape 1.50. Will both pairs plunge now that the main data releases are behind us? Update: Yes. EUR/USD is now at 1.2970 and GBP/USD at 1.4985. More economic data: The new orders component rose from 53.3 to 57.8. This is the highest level since April 2011. However, the unemployment component slipped from 54 to 52.6 points. It's… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
