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Barchart
Barchart
Rich Asplund

Dollar Supported by Weakness in Stocks

The dollar index (DXY00) today rose to a 2-week high and is up +0.09%. Weakness in stocks today has prompted some liquidity demand for the dollar.  However, gains in the dollar are limited by today’s weaker-than-expected US ISM manufacturing and construction spending reports. 

The US Aug ISM manufacturing index rose +0.4 to 47.2, weaker than expectations of 47.5.  The Aug ISM price paid sub-index unexpectedly rose +1.1 to 54.0 versus expectations of a decline to 52.0, which was hawkish for Fed policy.

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