EUR/USD Continues Its Decline
EUR/USD continues to experience decline amid the Greece’s crisis, while U.S. economy shows stable growth. Improved ADP unemployment rate signals about the increasing economic activities. And ISM PMI index shows steadily improving market conditions. EUR/USD currently trades near 1.2850.
ADP unemployment rate showed an increase by 32k job places from March to April, which is somewhat better than expected 29k increase. From February to March employment rose by 19k, revised from a decline of 23k.
ISM PMI index grew 55.4% in April, the same rate of growth as registered in March. Yet analysts expected better results as their prediction was 56.1% increase.
Crude oil inventories showed an increase by 2.8 million barrels from the previous week. Total motor gasoline inventories increased by 1.2 million barrels last week, and are above the upper limit of the average range.