US Chicago Purchasing Managers' Index declines to 49 in Apr from 52.4 in Mar

The European morning drop, supported around 1.3070 (spike low at 1.3056), is being rapidly retraced on the New York opening as US investors get ready for May and the FOMC meeting. In little time, the EUR/USD jumped 50 pips to 1.3118, two pips from the daily high of 1.3120.