EURUSD trades at its lowest level since mid-October

The release printed by the US Institute for Supply Management (ISM) on Tuesday disclosed that the economic activity in the non-manufacturing sector in the US rose at a more strong pace than anticipated in October with the Purchasing Managers’ Index (PMI) recovering to 54.7 from 52.6 in September and surpassing the market expectation of 53.5.

The USD gathered strength versus a bundle of its main competitors and the US Dollar Index (DXY) rose to a new daily top above the 97.90.

Weighed by the optimistic performance of the USD, the EURUSD pair is currently trading at the lowest level since mid-October at 1.1070.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.

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