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Positive Data from Europe Does Not Help EUR/USD

December 2, 2013 by Vladimir Vyun

EUR/USD extended Friday’s losses today despite positive data from the eurozone. Economic reports from the United States were good too, allowing the dollar to outperform the euro.

ISM manufacturing PMI rose from 56.4% to 57.3% in November. This is compared to the predicted drop to 55.2%. (Event A on the chart.)

Construction spending was up 0.8% in October from September. The reading was better than the forecast increase of 0.4% and the September fall by 0.3% (the September data was released today). (Event A on the chart.)

EUR/USD for 2013-12-02

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