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EUR/USD Slips, Attempts to Rebound

April 2, 2012 by

EUR/USD declined today as investors remained worried even after European lawmakers agreed to increase the protection against the debt crisis. The currency pair movehigher after a report showed that US construction spending unexpectedly declined, but for now remains below the opening level.

ISM manufacturing PMI rose from 52.4% in February to 53.4% in March, matching analysts’ forecast. (Event A on the chart.)

Construction spending fell 1.1% in February on monthly basing, following the decline by 0.8% (revised from 0.1%) in January. The report frustrated analysts, who expected an increase by 0.7%. (Event A on the chart.)

EUR/USD for 2012-04-02

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