Dollar extends rebound on ‘better' US eco data

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    On Tuesday, EUR/USD traded in the upper half of the 1.08 big figure for most of the session. The final EMU manufacturing PMI was revised slightly higher from 51.0 to 51.2. However, after Monday’s negative EMU CPI, the euro still suffered from market speculation on a substantial ECB easing next week. Later in the session, the dollar gained further momentum as US eco data (ISM manufacturing, construction output) were better/less weak than feared and as equities succeeded a nice rally. EUR/USD

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