Australian Dollar falls following China’s RatingDog Services PMI
The Australian dollar (AUD) has lost ground against the US dollar (USD) following the release of China’s Purchasing Managers’ Index (PMI) by Rating Dog Services, which saw a slight decline to 52.0 in December from 52.1 in November. Notably, Rating Dog also reported an increase in manufacturing PMI—from 49.9 in November to 50.1 in December. […]
Dollar weakened as PMI data supports arguments for interest rate reduction
Dollar Weakens Amid Manufacturing Concerns The dollar continued to feel pressure on Tuesday following disappointing manufacturing activity data from the U.S., which has increased expectations for the Federal Reserve to lower interest rates during its upcoming policy meeting. The US dollar index, which gauges the currency’s strength against a selection of six major currencies, declined […]
EUR/USD remains steady as varied PMI reports put pressure on the Dollar.
The euro (EUR) remained stable against the US dollar (USD) on Monday, with the EUR/USD pair sitting near recent highs it reached earlier in the day as traders looked over the latest ISM Manufacturing Purchasing Managers’ Index (PMI) data. As of now, EUR/USD is trading around 1.1631, marking its sixth consecutive day of gains. There’s […]
EUR/USD holds onto gains before the Eurozone Manufacturing PMI
The EUR/USD pair is holding steady, climbing for the sixth consecutive day on Monday and trading just below a two-week peak of 1.1620. Even though the Eurozone’s Purchasing Managers’ Index (PMI) was revised downward for November, it didn’t significantly shake the euro, which is benefiting from a weaker US dollar. The US dollar is under […]
Pound Sterling falls following disappointing UK Retail Sales and preliminary PMI data.
The British pound took a noticeable hit against major currencies on Friday, primarily due to disappointing retail sales figures for October in the UK, alongside preliminary S&P Global Purchasing Managers’ Index (PMI) results for November. The Office for National Statistics (ONS) indicated that retail sales—a key indicator of consumer spending—dropped by 1.1% month-over-month. This was […]
Australian Dollar strengthens after S&P Global PMI report
On Friday, the Australian dollar (AUD) regained some strength against the US dollar (USD) after experiencing a couple of days of decline. This increase in the AUD/USD pairing came shortly after the preliminary findings from Australia’s S&P Global Purchasing Managers’ Index (PMI) were released. Specifically, the S&P Global Manufacturing PMI for November was reported at […]
EUR/USD rises close to 1.1550 ahead of HCOB PMI data.
EUR/USD Slightly Up Ahead of Key Economic Data The EUR/USD pair edged up a bit after a stagnant day, hovering around 1.1540 during Asian trading hours on Friday. Traders are looking forward to the preliminary HOCB Purchasing Managers’ Index (PMI) for November concerning Germany and the eurozone, which is set to be released soon. In […]
US ISM Services PMI exceeds forecasts in October
Services PMI Shows Improvement According to data released by the Institute for Supply Management (ISM), the services PMI for October stood at 52.4, which is an increase from 50.0 in September and surpasses expectations of 50.8. Additionally, the Prices Paid Index, indicating inflation trends, increased slightly from 69.4 to 70.0. The Employment Index experienced a […]
US Dollar Index rises above 99.50 before US Manufacturing PMI announcement
During Asian trading hours on Monday, the US Dollar Index (DXY), which gauges the dollar’s value against six major currencies, was around 99.75. The index experienced an uptick, driven by the hawkish tone from the US Federal Reserve. Traders are now anticipating the release of the US October ISM Manufacturing Purchasing Managers’ Index (PMI) report […]
Australian Dollar maintains losses after China’s Manufacturing PMI data
The Australian dollar (AUD) saw a bit of a rebound against the US dollar (USD) on Monday, marking the end of a three-day decline. However, there’s a chance that AUD/USD might still drift lower as the USD gains strength, especially with the likelihood of a rate cut by the US Federal Reserve in December diminishing. […]