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Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - The US ISM Manufacturing PMI came in higher than expected, moving from contractionary at 49.5 to 50.7, beating the 50.3 consensus for December. Prices Paid rose from 52.5 to 55.5, surprising analysts that were predicting a "slower" figure, at 51.5.

Investors were already hinted by the Markit figure that came earlier, at 54.0 (consensus of 53.2), that triggered a move to 1.3237 session low. But the usual "buying ahead of data" gave the EURUSD a second chance. The publication led to a new decline, now trying to find ground at 1.3245/50.

US Construction Spending fell -0.3% in November, disappointing expectations of a monthly rise of 0.6%. Data had risen 0.7% in the prior month. Earlier, the German fash CPI inflation report came in higher than expected, above 2.0%, rising from 1.9% to 2.1% in December.

UBS analysts are bullish: "There is potential for a break above resistance at 1.3386 and extend the strength to 1.3493", wrote analyst Gareth Berry, pointing to support at 1.3159 ahead of 1.3093.
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