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EUR/USD Carves Out Gains

October 1, 2015 by Vladimir Vyun

EUR/USD managed to carve out gains during the Thursday’s trading session as a couple of economic indicators released from the United States today were disappointing. This includes the increasing jobless claims and the drop of ISM manufacturing PMI. The gains of the currency pair were meager, though, as the market prepares itself for the tomorrow’s release of nonfarm payrolls.

Initial jobless claims rose from 267k to 277k last week, a bit above analysts’ expectations of 273k. (Event A on the chart.)

Final Markit manufacturing PMI was at 53.1 in September, almost unchanged from the previous month’s and the preliminary reading of 53.0 and in line with forecasts. (Event B on the chart.)

ISM manufacturing PMI dropped from 51.1% to 50.2% in September, missing the median experts’ estimate of 50.8%. (Event C on the chart.)

Construction spending rose 0.7% in August from July, matching market expectations. July’s increase was revised negatively from 0.7% to 0.4%. (Event C on the chart.)

EUR/USD for 2015-10-01

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

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