The main currency pair is fixing close to six weeks’ lows; the USD is supported by some strong statistics.
On Tuesday morning, EURUSD is consolidating near the lows it reached on March 1st 2018. The current quote for the instrument is 1.2210.
Yesterday’s numbers from the USA provided significant support to the American currency. The Flash Manufacturing PMI from Markit increased up to 56.5 points in April after being 55.6 in March. The Flash Services PMI expanded up to 54.4 points against the March reading of 54.0 points.
The numbers really exceeded expectations. The components of both report show that the new orders subindex is improving quite fast.
The real estate numbers were also impressive. The Existing Home Sales improved up to 5.6M, although it was expected to be 5.55M. The sector is in demand right now: due to the tightening of the FOMC’s monetary policy, lending rates are growing, thus making the country’s population buying real estate while the prices are not so high.
This evening, the USA will report on the New Home Sales in March. After yesterday’s report on the Existing Homes Sales, this report might be even more interesting and the USD might find some more support.
RoboForex Analytical Department