The European Common Currency appreciated against the US Dollar, following the US ISM Manufacturing PMI survey results release on Friday at 14:00 GMT. The EUR/USD exchange currency rate gained 21 pips or 0.19% right after the release. The Greenback continued trading at the 1.1165 level against the Greenback.
The Institute for Supply Management (ISM) released the US ISM Manufacturing PMI survey results, which came out worse-than-expected of 48.3 compared with the forecast of 49.0.
Timothy R. Fiore, the Chair of the ISM Manufacturing Business Survey Committee commented on the release: “Global trade remains the most significant cross-industry issue. Food, Beverage & Tobacco Products remains the strongest industry sector and Transportation Equipment the weakest sector. Overall, sentiment this month remains cautious regarding near-term growth.”
