UK preliminary Composite PMI rises significantly to 53.9 from 51.4 previously.
The preliminary data suggests that the UK’s headline PMI saw an increase, jumping from 51.4 in December to 53.9 in January, which was higher than the anticipated figure of 51.7. This indicates a notable rise in overall business activity, driven by strong growth in both the manufacturing and service sectors. The Services PMI came in […]
US Dollar Index stays under 98.50 because of cautious sentiment, watch for S&P Global PMI
The US Dollar Index (DXY), which tracks the US dollar’s value against six key currencies, held steady after dropping 0.5% in the previous session. As of Friday morning in Asia, it’s lingering around 98.30. Traders are currently waiting for the early results of the US S&P Global Purchasing Managers’ Index (PMI), set to be released […]
Australian Dollar rises after PMI data release
Australian Dollar Gains Against US Dollar The Australian dollar saw a slight increase against the US dollar on Friday, marking its second consecutive day of gains. The AUD/USD pair remained in focus as Australia’s S&P Global Manufacturing Purchasing Managers Index (PMI) preliminary reading for January came in at 52.4, up from 51.6 previously. The Services […]
GBP/USD rises above 1.3500 as the US Dollar loses strength before ISM Services PMI
GBP/USD gained some ground after experiencing modest increases in the previous session, trading around 1.3510 during Asian hours on Wednesday. This rise has occurred as the US dollar faces challenges ahead of the upcoming US ISM Services Purchasing Managers Index (PMI) and JOLT job numbers due later today. On Tuesday, Federal Reserve President Stephen Milan […]
Dollar Index climbs over 98.50 amid US-Venezuela tensions, watching for ISM PMI data
US Dollar Index Shows Gains Amid Geopolitical Tensions The US Dollar Index (DXY), which tracks the dollar’s performance against six major currencies, has seen a rise for the second consecutive day, hovering around 98.60 during Asian trading hours on Monday. Traders will be watching closely for the ISM Manufacturing PMI data set to come out […]
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 […]