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EUR/USD Drops to Record Low in a Year

September 2, 2014 by Vladimir Vyun

EUR/USD fell to the lowest level in a year as today’s economic data from the United States was very good, supporting the outlook from monetary tightening from the Federal Reserve.

ISM manufacturing PMI climbed to 59.0% in August, while analysts expected it to stay little changed from the July’s value of 57.1%. (Event A on the chart.)

Construction spending grew 1.8% in July from June compared to the median forecast of 0.9%. The June’s change was revised upwardly from -1.8% to -0.9%. (Event A on the chart.)

EUR/USD for 2014-09-02

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