Yesterday the pair EUR/USD showed a growth after a moderate decline - bulls took profits on the long positions after this week strong growth. Macroeconomic data showed a mixed background – the euro zone unemployment positive release was replaced by the US service sector ISM business activity positive one.
The sales within the pair EUR/GBP cross-rate put pressure on the euro after the UK positive publication. Nevertheless the pair grew after a decrease.
Yesterday the British pound enjoyed a steady demand. The UK services sector PMI index showed a growth to the level of 57.2%. It is also worth noting that the British indicator was able to bypass the same US indicator in January despite the fact that the ISM has reported the non-productive sphere increase. Against this positive background, the pair GBP/USD rose up at the end of the day.
The US macroeconomic statistics which was published on Wednesday can be regarded as negative. The ADP and ISM employment releases came out worse than the forecasted medians that with the manufacturing sector employment decrease cannot allow us to count on strong non-farm data output. The services sector business activity showed growth compared to the previous month, but the industrial sector weakness signals about the economic growth slowdown. Against this background, bears opened short positions within the pair USD/JPY that caused the quotations decrease. The pair increased at the end of the trading day.