US Dollar Mixed After Mixed Domestic Macroeconomic Data

The US dollar was mixed today, rising against some currencies, falling against others, and trading flat versus yet another ones. Domestic macroeconomic data was unable to provide direction to the currency, being mixed itself.

Markit released Purchasing Managers’ Indices for both manufacturing and services sectors of the United States. The manufacturing index was little changed, whereas experts had predicted a decline. Meanwhile, forecasters had promised the non-manufacturing index to remain stable, but it was the one that actually dropped. The Richmond Fed manufacturing index was also little changed despite forecasts of a decline.

Some market analysts said that the currency will remain in consolidation mode, especially versus the euro, till the European Central Bank policy meeting on Thursday. Additionally, there is the question of trade wars between the USA and their trading partners. European Commission President Jean-Claude Juncker will meet US President Donald Trump on Wednesday, though there will be no discussion of a specific trade deal.

EUR/USD was little changed at 1.1686 as of 16:22 GMT today after rising a bit earlier. GBP/USD gained from 1.3098 to 1.3144. At the same time, USD/CHF advanced from 0.9895 to 0.9941.

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