EUR/USD falls as ISM Manufacturing PMI improves, boosting USD on Fed tightening speculation – by christianborjon EURUSD Currencies Majors
EUR/USD dips as ISM Manufacturing PMI for April shows improvement but falls short of expansionary territory.EU Inflation Figures and HCOB Manufacturing PMI to provide insight on the European Central Bank's chances for a 50 or 25 bps rate hike.dropped below 1.1000 after the ISM announced that manufacturing activity in April improved. However, it stood in contractionary territory, while a measure of inflation in the same data increased.
Therefore, the EUR/USD retraced, past the daily pivot point and beneath the S1 daily pivot, at 1.0970. It should be said that the greenback underpinned by higher US T-bond yields, its printing losses of 0.46%, up at 102.149. As of writing, comments from the IMF Managing Director Kristalina Georgieva on Monday said, "De-dollarization isn't on top of my worry list." She added, "There may be more vulnerabilities exposed in the banking sector," and warned that they would see quite a lot of regulatory and disclosure thinking in the wake of the banking crisis.
An absent Eurozone's economic docket kept EUR/USD traders leaning on the American Dollar dynamics and
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