The US dollar is trading sideways at the end of the trading week as the manufacturing sector continues to slump at a decade-low. Can the manufacturing industry turn things around in 2020 as the US and China gradually wind down their 18-month trade dispute? From trade certainty to the White House’s aim for a weak dollar policy, American manufacturers may have a rebound year.
The Japanese yen is rallying against most major currency rivals midweek as the world’s third-largest economy implemented a long-awaited sales tax hike. This comes as Wall Street is forecasting the yen will enjoy a monumental rally to finish off the year amid the chaos unfolding in global markets. Are investors dismissing the weak data this week?
The US dollar is rallying against some of the most-traded currency pairs to kick off the trading week. The greenback is finding direction on recent data that suggest that the current bull run still has some legs and the economy could have additional room to grow. The buck was capped as traders had a renewed interest in China after a swath of data were released showing perhaps a recovery is in sight.
The US dollar is trading mixed against a basket of currencies to kick off the new trading week. The greenback is finding direction on new construction numbers and US-China trade deal optimism. The buck has been impacted by a myriad of disappointing economic data as of late.
The US dollar today remained weak against its main peers such as the British pound and the euro during the European session. The release of the positive core personal consumption expenditure and the US ISM employment data boosted the greenback slightly during the North American session.
US dollar index is lower, and greenback is down against its counterparts, following earlier gains. After surging a bit earlier in the session, the US dollar is now losing ground, likely due in part to profit taking.
