After hitting its highest point in 5 months at 1.0597, EUR/USD dropped by 100 pips and is now trading at 1.0496.
The Euro is currently trading at 1.0496 following the release of ISM Non-Manufacturing PMI (Nov) data from the United States.
While price action maintains a negative bias, United States ISM Non-Manufacturing PMI (Nov) came out at 56.5, while a consensus of analysts was expecting 53.3. Retail Sales in Euro Zone fell short of market expectations (-1.7%) with a reading of -1.8%, continuing the decline from the previous figure of 0.8%. Euro Zone Composite PMI released today at 09:00 UTC with a figure of 47.8, while the previous figure was 47.3.
In the meantime, negative performances are also seen in other pairs as AUD/USD closed at 0.6704 (down 1.36%).
Positive performances can be seen by looking at other currencies as USD/JPY is up 1.81% to 136.7. EUR/JPY soars 1.4% to trade around 143.46.
Furthermore, Germany Factory Orders is projected to outperform its last figure with 0.1%, having previously been at -4%. The figure will be published tomorrow at 07:00 UTC. Euro Zone ECB's Supervisory Board Member Jochnick speech is scheduled for tomorrow at 10:10 UTC. United States EIA Short-Term Energy Outlook will be released tomorrow at 17:00 UTC.
The Euro is now trading 9.74% away from its significant low of 0.9596 first tested 2 months ago.