US ISM Manufacturing PMI dropped from 54.8 to 53.5 points – worse than expected, but not a huge disappointment. A score of 54 was expected. This is still in the growth zone, of above 50 points. EUR/USD remains on high ground, above 1.24. The employment component slid from 57.3 to 56.9 points – not a big change and still high. Prices took a dive from 61 to 47.5 points. New orders surprised to the upside, rising from 58.2 to 60.1 points. The comments in the report were generally positive. The overall economy completed three years of expansion according to ISM. The headline number of 53.5 is a bit lower than the new Markit manufacturing PMI for the United States, which stood on 54 points in May. Earlier, the all important Non-Farm Payrolls report was a huge disappointment: the US gained only 69K jobs and the unemployment rate is at 8.2%, higher than expected. The initial reaction was classic “risk aversion”: the dollar and the yen strengthened against all the rest. But this was later followed by a huge comeback of the euro. Here are five reasons for the euro comeback. The pair went all the way from 1.2288 to 1.2460 before sliding back under 1.24. US Construction Spending, also released at the same time, was also marginally disappointing: rising 0.3% instead of 0.4% expected. Yet last month’s figure was revised from +0.1% to +0.3%. 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 June 4-8 Anat Dror 10 years US ISM Manufacturing PMI dropped from 54.8 to 53.5 points - worse than expected, but not a huge disappointment. A score of 54 was expected. This is still in the growth zone, of above 50 points. EUR/USD remains on high ground, above 1.24. The employment component slid from 57.3 to 56.9 points - not a big change and still high. Prices took a dive from 61 to 47.5 points. New orders surprised to the upside, rising from 58.2 to 60.1 points. The comments in the report were generally positive. The overall economy completed three years of expansion according to ISM.… 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.