EUR/USD rose today. Some market analysts explained the rally by the bigger-than-expected number of jobless claims in the United States dragging the dollar down. But the currency pair has been rising even before the release. The pair halted the rally briefly after the release of better-than-expected US manufacturing reports but the rally resumed quickly afterward.

Initial jobless claims were at 719k last week, seasonally adjusted, up from the previous week’s revised level of 658k (684k before the revision). Experts were expecting a smaller figure of 678k. (Event A on the chart.)

Markit manufacturing PMI rose to 59.1 in March from 58.6 in February according to the final estimate, close to market expectations and the preliminary estimate. (Event B on the chart.)

ISM manufacturing PMI rose to 64.7% in March from 60.8% in February. Specialists had predicted a much smaller increase to 61.5%. (Event C on the chart.)

Construction spending fell by 0.8% in February, matching forecasts. The January increase got a negative revision from 1.7% to 1.2%. (Event C on the chart.)

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This article was originally published by the original article here.


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