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EUR/USD Bounces Ahead of Midterm Elections

November 5, 2018 by

EUR/USD fell intraday but bounced later, currently trading above the opening level. Market experts explained the bounce by the sell-off of the dollar ahead of the US midterm elections on Tuesday.

Markit services PMI climbed to 54.8 in October from 53.5 in September according to the final estimate. The actual reading was in line with analysts’ forecasts and the preliminary estimate of 54.7. (Event A on the chart.)

ISM services PMI fell 60.3% in October from 61.6% in September. Analysts had expected a bigger drop to 59.3%. (Event B on the chart.)

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

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