The US dollar today rallied against some of its main trading peers including the euro and the Canadian dollar. The greenback’s rally was triggered by the release of the IHS Markit US Manufacturing PMI for March, which was slightly lower than expected, but still tilted the scales in favor of the greenback. The US Dollar Index, which tracks the greenback’s performance against a basket of its peers, rallied from a daily low of 89.82 to a high of 90.15. … “US Dollar Rallies Higher on Manufacturing PMI Releases”
Month: April 2018
Australian Dollar Declines on China’s Data, Trade War Fears
The Australian dollar fell today after negative macroeconomic data from China and signs that the United States and China are close to starting a full-blown trade war. The Caixin China General Manufacturing PMI dropped from 51.6 in February to 51.0 in March. The drop was totally unexpected to economists, who were counting on an increase to 51.8. Staying with the theme of China, the Asian nation announced a tit-for-tat response for the US tariffs on country’s goods. … “Australian Dollar Declines on China’s Data, Trade War Fears”
Japanese Yen Falls as Macroeconomic Data Disappoints
The Japanese yen was flat versus the US dollar and lower against other major currencies today after the release of disappointing macroeconomic reports in Japan. The Bank of Japan Tankan manufacturing index dropped from 26 in the December quarter to 24 in the March quarter. The non-manufacturing index declined from 25 to 23. Both values were below the economists’ expectations. Private data echoed the negativity of the official report, with the Nikkei Japan Manufacturing PMI … “Japanese Yen Falls as Macroeconomic Data Disappoints”