1 June 2015, 17:56  EUR/USD turns lower

EUR/USD turned lower and fell a few pips after the latest round of US manufacturing data helped to lift the greenback. US Markit manufacturing PMI for May came in at 54.0 slightly softer than the 54.2 expected but up from previous month’s 53.8 reading. Meanwhile, the Institute of Supply Management (ISM) manufacturing PMI rose to 52.8 in May from 51.5 and above the 52.0 expected. Both indexes were above the 50.0 threshold, indicating expansion in the sector. EUR/USD came under renewed pressure after hitting a session peak of 1.0978 and fell back to the 1.0920 zone. At time of writing, the pair is trading at 1.0925, down 0.57% on the day. Immediate support stands at 1.0890, where the pair scored a daily low during the European session. Earlier on the day, reports that a Greek debt deal was imminent supported the euro, although they were quickly denied by Greece's creditors.

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