The January Manufacturing ISM went up to 35.6 against 32.9 previously. The construction spending for December came down -1.4% and Personal Income dropped -0.2%. Also oil dropped $1.60 ending $40.08 end of New York session. In the Stock markets the Dow Jones fell 64 points and the NASDAQ gained 18 points. Data coming out December home sales.
The Euro was 2 month low at $1.2705 against US$ this was mainly due the financial system which gave appetite for the US$ as a safety. It came back against the Sterling on the back of not very good news on coming out the UK economy.
On the data front January European Manufacturing PMI came in lower at 34.4 EUR/USD closed the day at 1.2850 at the end of New York session.
The Sterling gave back some of it's gains from last week with Barclays downgrading by Moody's expecting more losses and also expectation of a rate cut of 50 basis points on Thursday. The gains were mainly in the stock market rise which helped Sterling to get away from a 23 year low last week.
On the data front PMI manufacturing for January rebounded to 35.8 vs. 32.9. GDP/USD ended the day 1.4280 at the end of New York session.