EUR/USD Determined to Go Up as U.S. Data Surprise Positively

Euro came up against the U.S. dollar unexpectedly today as the key fundamental indicators of the world’s biggest economy showed a positive signal for the euro bulls and dollar bears. It looks like we are heading for another week of global stock positive, which will lead to a continued uprise of such currencies as the euro. EUR/USD is currently trading near 1.4362.
ISM manufacturing index rose from 44.8% to 48.9% during the month of July. It was expected to come up to 46.5%. It’s a great leap up, but the indicator’s value still suggests deteriorating conditions of the industrial sector in U.S.
Construction spending in U.S. rose by 0.3% in June if compared to May. The forecasts were pointing at 0.5% drop on average.

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