The dollar index (DXY00) on Friday rose by +0.50% due to increased liquidity demand sparked by the weak U.S. stock market. In addition, EUR/USD (^EURUSD) fell by -0.65% as the Eurozone PMI reports were weaker than the U.S. PMI report, which sparked euro selling. USD/JPY (^USDJPY) rose by +0.47%.
Friday’s preliminary-June S&P U.S. PMI fell by -2.1 points to a 6-month low of 46.3, weaker than expectations for a +0.1 point increase to 48.5. The services PMI fell -0.8 points to a 2-month low of 54.1, slightly better than expectations for a -0.9 point drop to 54.0. The composite PMI fell by -1.3 points to a 3-month low of 53.0, which was weaker than expectations for a -0.8 point drop to 53.5.
