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EUR/USD Fails to Extend Friday’s Rally

October 5, 2015 by

EUR/USD attempted to extend Friday’s rally today and was successful at first. Yet the rally halted as of 12:45 GMT, and the currency pair started to move down. This is rather surprising, considering that the Monday’s data from the United States was not good at all and should have been detrimental to the dollar.

Final Markit services PMI fell from 56.1 in August to 55.1 in September. The median analysts’ forecast was almost the same as the preliminary estimate of 55.6. (Event A on the chart.)

ISM services PMI slumped from 59.0% to 56.9% in September, far below the experts’ expectations of 58.0%. (Event B on the chart.)

EUR/USD for 2015-10-05

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