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US Manufacturing flash PMI data falls below 50- EUR/USD rises

The US April flash PMI data has just been released and it has all missed on the downside. The reaction across the markets has seen the dollar fall back across the board. The EUR/USD has now lifted above 1.07 on this news. The USD/JPY has fallen back as US yields fall. The US stock markets have all risen on this news too. The manufacturing index has dropped to below 50 (49.9) where the markets expected a number around 52, where it was last time. 

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