ISM Manufacturing as expected.
The US data at 10 AM ET was ok
- ISM Manufacturing came in as expected at 57.2. New orders were weaker than last month though but still high at 64.5 vs 65.1. Employment rose to 58.9 vs 54.2. Prices paid was hgiher at 70.5 vs 66. Honestly, it looks good
- Construction spending increased by a lower than expected +0.8% BUT the prior month was revised higher to -0.4% from -1.0%.
Today car sales are NOT great, with most reported less than expected numbers.
The dollar since 10 AM ET, has pushed lower.
- The EURUSD has moved above its 100 and 200 bar MA on the 5-minute chart but at 1.0663-689 area (now support?). The high for the day at 1.0680 remains in place. The range is still 31 pips (see prior post).
- The USDJPY has moved below its 100 hour MA at 111.294 (risk now) and looks toward the 200 hour MA and 50% at 111.098 and 111.147 respectively (see prior post on the pair here). The low has reached 111.148. Its narrow range of 45 pips remains (the range has not been extended).
- For the GBPUSD it is what it could not do. On the downside, the pair had support at the 100 hour MA at 1.24716 and the NY session low could only get to 1.2479 before the push back higher. The price has moved below its 200 hour MA (currently at 1.24925) on 5 separate hourly bars but could not close below that MA line. We trade back above. 1.2500 at 1.2512 currently.