EUR/USD went up today on manufacturing data from the United States and Europe. The eurozone manufacturing index climbed (event A on the chart), while the US gauge was surprisingly weak. This difference allowed the euro to gain on the dollar.
ISM manufacturing PMI fell from 56.5% in December (revised from 57.0%) to 51.3% in January. The actual slump was much bigger than the predicted drop to 56.2%. (Event B on the chart.)
Construction spending rose just 0.1% December from November, compared to the analysts’ estimate of 0.3% and the November’s increase of 0.8%. (Event B on the chart.)
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