The euro traded near $1.12 against the dollar in Asian trading Tuesday, Nov. 3, FXStreet reported, as October surveys showed U.S. manufacturing activity strengthening and euro-area factory growth easing slightly.
FXStreet put EUR/USD just below $1.12 in a report timestamped 8:44 p.m. ET Monday (01:44 UTC Tuesday), after the pair moved down from around $1.1235 earlier Monday. The European Central Bank’s daily reference rate was $1.1216 per euro on Nov. 2, a benchmark separate from an intraday market quote. EconoTimes previously covered the euro near $1.12 amid energy-related inflation and growth concerns raised by the ECB.
The Institute for Supply Management (ISM) said its U.S. Manufacturing PMI rose to 55.5% in October from 54.5% in September, marking a 10th consecutive month of expansion. ISM interprets readings above 50 as signs of manufacturing expansion. Reuters reported that economists it polled had expected the index to remain at 54.5.
The ISM Prices Index fell to 75.2% from 77.9%, though the organization said raw-material prices rose for a 25th consecutive month. Reuters reported that the euro-area manufacturing PMI eased to 52.7 in October from 52.9 in September; the reading remained above 50, indicating expansion.
Reuters said major currencies traded in a narrow range Monday as investors focused on the U.S. midterm elections. The Federal Election Commission (FEC) lists Nov. 3 as the next regularly scheduled federal general election date.
The Bureau of Labor Statistics (BLS) scheduled its September Job Openings and Labor Turnover Survey for 10 a.m. ET Tuesday, Nov. 3. Its October Employment Situation report is due at 8:30 a.m. ET Friday, Nov. 6.
