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EUR/USD Picks Up as Traders Less Nervous

July 1, 2013 by

EUR/USD rose today as positive data from Japan made Forex traders less fearful and more willing to risk. Reports from Europe were not particularly good, but neither they were too bad. US data was mildly positive, yet it did not give an edge to the dollar today.

ISM manufacturing PMI rose from 49.0 in May to 50.9 in June, being near the forecast of 50.6. Manufacturing was expanding again after one month of contraction. (Event A on the chart.)

Construction spending grew 0.5% in May, in line with forecasts. The April’s increase was revised negatively from 0.4% to 0.1%. (Event A on the chart.)

EUR/USD for 2013-07-01

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