EUR/USD falls on robust US ISM Services data

The Euro is falling against the US Dollar after hitting a six-month high nearby 1.0600. Eurozone data was mixed, though slanted towards the negative territory as Retail Sales retreated.

Therefore, the Euro is almost unchanged against the dollar following the release of the positive US ISM Services PMI that underpinned the USD, while last week’s solid November US employment report shows the labour market remains tight. At the time of writing, the EUR/USD is trading at 1.0494, down by 0.40%.

Market sentiment is deteriorated, even though China is beginning to ease Covid-19 measures. The US ISM Non-Manufacturing Index for November rose by 56.5, above estimates of 53.3, crushing October’s 54.4.