4/30/2021 3:11:21 PM GMT
US macroeconomic data confirmed the post-pandemic recovery is underway.
Investors will focus next week on US employment-related data.
EUR/USD loses bullish scope, not yet confirming an upcoming slide.
The EUR/USD pair surged this week to 1.2149, its highest in over two months, but was unable to sustain gains and finished the week flat a handful of pips below the 1.2100 level. The macroeconomic calendar left quite a clear picture: the US economic recovery is two steps ahead of that of its major competitors. However, investors still struggle to decide whether to buy the greenback on upbeat US macroeconomic data or sell it in favor of high-yielding assets.
5/3/2021 12:27:35 PM GMT
EUR/USD Current Price: 1.2046
EU Markit Manufacturing PMIs suffered downward revisions in April.
US ISM Manufacturing PMI is expected to post an impressive 60.6.
EUR/USD recovered some ground, but its bullish potential is limited.
The greenback is down on Monday, with EUR/USD trading around 1.2050, recovering from a daily low of 1.2012. The week started in slow motion amid holidays in China and Japan that will extend into the upcoming days. The European opening saw the American currency ease as local shares are up, although movements are limited amid mixed news coming from the EU.
Germany published March Retail Sales, which unexpectedly rose by 11% YoY, much better than the -3.1% expected. In the month, sales were up 7.7%. However, Markit published the final versions of its April Manufacturing PMIs, which were downwardly revised. The German index printed at 66.2 while the EU reading resulted in 62.9, below the 63.3 previously estimated.
May 3, 2021 22:31 GMTFXStreet News
What you need to know on Tuesday, May 4:
The greenback gave back most of its Friday’s gains, amid a better market mood. China, Japan and London were on holidays, limiting volatility.
Markit published the final readings of its April Manufacturing PMIs for the EU and the US, all of them sufferi
ng modest downward revisions. The US official ISM Manufacturing PMI resulted in 60, below expected but still indicating substantial growth. Indexes advanced while government bond yields eased, reflecting a positive market’s mood.
The EUR/USD pair remained above the 1.2000 threshold ending the day at around 1.2060. GBP/USD regained the 1.3900 mark but remained below 1.3930. Commodity-linked currencies also strengthened, as
5/03/2021 10:04:00 AM
(Posted with permission). The ISM manufacturing index indicated expansion in March. The PMI® was at 60.7% in April, down from 64.7% in March. The employment index was at 55.1%, down from 59.6% last month, and the new orders index was at 64.3%, down from 68.0%.
Economic activity in the manufacturing sector grew in April, with the overall economy notching an 11th consecutive month of growth, say the nation s supply executives in the latest Manufacturing ISM® Report On Business®.
The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee:
“
The April Manufacturing PMI® registered 60.7 percent, a decrease of 4 percentage points from the March reading of 64.7 percent. This figure indicates expansion in the overall economy for the 11th month in a row after contraction in April 2020. The New Orders Index registered 64.3 percent, declining 3.7 percentage poin
®.
The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management
® (ISM The April Manufacturing PMI
® registered 60.7 percent, a decrease of 4 percentage points from the March reading of 64.7 percent. This figure indicates expansion in the overall economy for the 11th month in a row after contraction in April 2020. The New Orders Index registered 64.3 percent, declining 3.7 percentage points from the March reading of 68 percent. The Production Index registered 62.5 percent, a decrease of 5.6 percentage points compared to the March reading of 68.1 percent. The Backlog of Orders Index registered 68.2 percent, 0.7 percentage point higher compared to the March reading of 67.5 percent. The Employment Index registered 55.1 percent, 4.5 percentage points lower than the March reading of 59.6 percent. The Supplier Deliveries Index registered 75 percent, down 1.6 percentage points from the March figure of 76.6 percent. The Inventories I