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Barchart
Barchart
Rich Asplund

Dollar Pressured by Signs of Slower US Manufacturing Activity

The dollar index (DXY00) today is slightly lower by -0.03%.  The dollar gave up an early advance and dropped to a 2.5-week low on today's weaker-than-expected US PMI and new home sales reports.  The dollar also fell as improved prospects for an EU trade agreement with the US boosted the euro.

The dollar today initially moved higher after weekly jobless claims unexpectedly fell to a 3-month low, a sign of labor market strength that was hawkish for Fed policy and positive for the dollar. 

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