EUR/USD Ticks Up in Light Trading

EUR/USD ticked up today as the dollar was under pressure from growing fears of a trade war between the United States and China. The rally was very limited as trading was thin because Easter Monday is a holiday in many countries.

Markit manufacturing PMI rose from 55.3 in February to 55.6 in March according to the final estimate. It was close to the analysts’ forecasts and the preliminary reading of 55.7. (Event A on the chart.)

ISM manufacturing PMI demonstrated opposite behavior, falling from 60.8% in February to 59.3% in March. Experts had predicted a drop, but a smaller one — to 60.1%. (Event B on the chart.)

Construction spending rose by just 0.1% in February from January, failing to meet the experts’ projection of a 0.4% growth. The indicator demonstrated no change in January. (Event B on the chart.)

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