This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
US Manufacturing on Watch
The US dollar has taken a sharp turn lower late in the week as selling kicks in ahead of the key 100 level on the index. This level has not been passed in three years and is a major psychological level. For now, however, bullish USD sentiment continues. Looking ahead today, the US manufacturing reading could provide ammunition for a further topside run on a strong reading. USD index trades 99.58 last.
Euro Higher on Better Data
EURUSD has been a little higher over the final European morning of the week as the market reacts to stronger than expected German and eurozone manufacturing PMI readings. While both sets were still in contractionary territory last month, both were higher than expected, moving back towards the neutral level which is offering some encouragement today. EURUSD trades 1.0803 last, fighting to hold above the 1.08 level for now.
GBP Rallies on Data Beat
To keep reading this article, please navigate to: Orbex Forex Trading Blog.