The Nonfarm Payroll report showed that the labor market cooled in April. The Fed eral Reserve was less hawkish than anticipated, markets rallied on relief. EUR/USD is up for a third consecutive week but buying interest remains reluctant. The pair trades around 1.0760 ahead of the close after tumultuous headlines failed to trigger a clear directional path.
What data has to say The US also published the ISM Manufacturing PMI, which showed the sector’s output “contracted in April after one month of expansion following 16 consecutive months of contraction”, according to the latest Manufacturing ISM report. Finally, S&P Global confirmed the Manufacturing PMI for the same month at 50 above the 49.9 expected and preliminary reading but below the previous 51.9. The ISM Services PMI for the same month unexpectedly shrank to 49.4 from 51.
Recommended Fed Inflation Growth
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