Yet another disappointing manufacturing figure from the US: the ISM Manufacturing PMI dropped to 55.5 points, worse than expected. The sliver lining is that the employment component actually rose to 56.8 points. However, new orders fell from 66 to 57.3 points. Another worrying sign came from prices paid, which dropped to a very low level of 38.5 points, partly impacted by oil prices. The dollar is retreating after making huge gains earlier. EUR/USD was already too close to 1.20 at 1.2008, and it is now at 1.2027. In addition, construction spending fell by 0.3%, contrary to expectations for a rise of 0.4%. The ISM Manufacturing PMI was expected to slide to 57.6 in December from 58.7 points in November. This serves as a hint towards the all important Non-Farm Payrolls which is released next week. The dollar was on a roll prior to the publication, with EUR/USD trading at levels last seen in 2010, very close to 1.20. We also had other breakouts: GBP/USD fell below 1.54, USD/CHF hit parity and USD/CAD broke above 1.17. Earlier, Markit’s manufacturing PMI was revised up from 53.7 to 53.9 points. 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 January 5-9 Anat Dror 7 years Yet another disappointing manufacturing figure from the US: the ISM Manufacturing PMI dropped to 55.5 points, worse than expected. The sliver lining is that the employment component actually rose to 56.8 points. However, new orders fell from 66 to 57.3 points. Another worrying sign came from prices paid, which dropped to a very low level of 38.5 points, partly impacted by oil prices. The dollar is retreating after making huge gains earlier. EUR/USD was already too close to 1.20 at 1.2008, and it is now at 1.2027. In addition, construction spending fell by 0.3%, contrary to expectations for a rise… Top 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.
