EUR/USD extended its rally for yet another session as it looked like the problems with Cyprus has gone away, at least for now. The data from the United States was not bad, even though manufacturing expansion slowed last month.
ISM manufacturing PMI fell from 54.2% in February to 51.3% in March, while analysts have hoped it would stay unchanged. The data still indicated expansion, albeit with slower pace. (Event A on the chart.)
Construction spending rose 1.2% in February from January, when it fell 2.1%. The actual value was in line with forecasts. (Event A on the chart.)
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