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Dollar’s Weakness Extends into New Week

April 6, 2015 by

The dollar was seriously hurt on Friday by lackluster nonfarm payrolls, and the currency retained its weakness at the beginning of the new week. EUR/USD rose today even though reports about the US services sectors were mostly positive. The gains were limited as trading volumes are still light. Most markets outside of the United States are closed after the Easter holiday.

Markit services PMI rose from 57.1 in February to 59.2 in March. The median forecast promised a reading of 58.6 — the same as the flash estimate. (Event A on the chart.)

ISM services PMI slipped from 56.9% in February to 56.5% in March, in line with market expectations. (Event B on the chart.)

EUR/USD for 2015-04-06

If you have any comments on the recent EUR/USD action, please reply using the form below.

One Response to “Dollar’s Weakness Extends into New Week”

  1. Arif Rahman

    However, in my opinion the dollar still will continue to strengthen against several currencies in the Asian region

    Reply

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