The ISM Manufacturing PMI release had not prevented a lingering upmove in the EUR/USD exchange rate. The pair added 10 base points to grow further to the 1.2520 level.
The US manufacturing activity weakened in January due to a decrease in new orders, though an unexpected fall in the number of Americans filing for unemployment aid last week indicated lingering job market strength, which could underpin bolster domestic demand. The ISM stated that the US Manufacturing PMI decreased to 59.1 in January from 59.3 in the prior month. The other data showed notable gains in construction spending. Meanwhile, a decrease in worker productivity pointed to more difficult maintenance of strong expansion pace.
