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U.S. Economy is Improving

June 2, 2008 by

EUR/USD fell by more than 60 pips today as the fundamental reports from U.S. signaled that the economy is improving there.

Construction spending was expected to fall by 0.6% in April; instead it was down only 0.4% after 1.1% drop in March.

ISM report on manufacturing sector of the economy showed that the PMI (purchase manager index) grew up from 48.6 in April to 49.6 in May. A drop to 48.0 was expected by the market analysts.

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