Monday’s trading was rather quiet as the release calendar for the day was almost empty. There was a single indicator released from the United States today, and it drove the dollar down against the euro, though the greenback’s losses were small.
Markit services PMI fell to 57.8 in April from 59.2 in the previous month while economists anticipated the gauge to stay almost unchanged. Still, the index was far above the neutral 50.0 level. (Event A on the chart.)
On Friday (April 24) a report on durable goods orders was released, showing that orders rose as much as 4.0% in March, far more than the forecast increase by 0.7%. The previous month’s drop was revised from 1.4% to 1.1%. At the same time, core durable goods orders (orders excluding transportation) fell 0.2% while analysts have predicted an increase at the same rate. (Not shown on the chart.)
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