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US dollar revision continues, US PMI mixed

US Dollar Analysis and News

  • Softer manufacturing sector offset by service
  • U.S. dollar Hovering weekly lows

Markit PMI disappoints

As in Europe, the October flash PMI was mixed as the softer manufacturing industry was offset by the more important service industry. Again, supply bottlenecks continued to weigh on manufacturers, but service was revived as the spread of delta variants eased. In addition, as companies expanded their capacity to meet rising demand, employment increased and the labor market showed more promising signs.

US PMI Make the resurrected service sector higher

Source: Refinitiv

USD reaction mute

As I emphasized last week, the US dollar was at risk of a reversal given how long the market was in the dollar. So far, in contrast to the beginning of the bearish trend, the weaker US dollar seems to be more profitable. That said, the eye is looking at weekly lows at 93.50, and if the dollar falls, this pullback could be carried out further.

U.S. dollar Chart: Daily time frame

US dollar revision continues, US PMI mixed

Source: Refinitiv



US dollar revision continues, US PMI mixed

Source link US dollar revision continues, US PMI mixed

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