European Reports Better than US Data, EUR/USD Jumps

EUR/USD climbed today as macroeconomic reports were worse than expected, sparking talks that the Federal Reserve may maintain its stimulus program for a prolonged time. Meanwhile, European data was better than expected. The euro gained on the dollar as a result.
ISM manufacturing PMI fell from 50.7% in April to 49.0% (a reading below 50.0% indicated contraction of the sector). It was the first decline since November 2012. Analysts have thought that the index would stay unchanged. (Event A on the chart.)
Construction spending grew 0.4% in April from March. It was rather small growth compared to the expected 1.1%. The March reading was revised positively from -1.7% to 0.8%. (Event A on the chart.)



Source: http://www.earnforex.com/blog/european-reports-better-than-us-data-eurusd-jumps/