USD Takes A Break On Negative ISM Manufacturing PMI

Forex 2154548

With the beginning of the new year, the U.S dollar started an upward move. The negative economic news from the euro and Britain today supported the U.S dollar. However; U.S ISM Manufacturing PMI fell 47.2, from 48.1 a month earlier, missing a forecast of 49.0. This development put the USD under pressure in the short-term. Anyway, EURUSD is likely to end the week around 1.1162 level (critical support). GBPUSD may also end the week around 1.3098 (critical support). USDJPY may end it around 108.20 (critical support)…

The market is expected to trade somewhere around the mentioned levels (sideways move) is expected, but the USD is still upward in the short-term forecast.

For further information, we recommend reading our daily forecasts for today.