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US dollar moves lower after weaker flash US PMI data. What next technically?
It's now the USD turn to react to lower PMI. The US manufacturing and services PMI came in weaker than expected. The manufacturing came in at 47.0 versus 49.3. The services index dipperd to 51.0 from 52.2. The composite index remained just above the 50 level at 50.4 versus 52.0 last month.In Europe, their flash PMI data all came below the 50 level sending the EUR and GBP lower. Now it is the USDs turn to head lower. Yields are moving lower which is helping, but European yields are also lower...
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Posted: Aug 23 2023, 13:59
Author Name: forexlive
Views: 111767