Not a strong start in the fourth quarter for USD, having failed to jump start against almost all major pairs despite the release of the data is better than what was expected.
Manufcturing ISM PMI surprised many investors with the release of 51.5, which is much better than median forecast of 49.8. Thanks to increasing demand, the manufacturing industry made it out of the contraction that has lasted three months subs.
After that, attention turned to Fed Chairman Ben Bernanke, who tried desperately to retain QE3 program. He tried to make sure that the program must be done in order to boost the economy and generate employment growth and it shows commitment to easy monetary policy.
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