Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»EXCHANGE NEWS»The dollar is struggling following the release of US data. Pay attention to PMI for market movements
EXCHANGE NEWS

The dollar is struggling following the release of US data. Pay attention to PMI for market movements

By Crypto FlexsDecember 17, 20234 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
The dollar is struggling following the release of US data.  Pay attention to PMI for market movements
Share
Facebook Twitter LinkedIn Pinterest Email

The Fed cannot raise interest rates. However, the US dollar could potentially continue to suffer in deep waters. Most of these expectations stem from the fact that countries agree to trade among themselves without using their own U.S. currency. This creates an imbalance between the demand and supply of dollars. This therefore affects how it is valued in the market.

Another factor taken into consideration is inflation. It will take a while for the Fed chair to be on the security radar as he signals that interest rates will remain stagnant at high levels for some time. As the Global Purchasing Managers’ Index data is scheduled to be released, a recovery is expected at that point.

US economic data

The US dollar is falling. Retail sales in November increased 0.3%. Unemployment claims were better than analysts expected. Overall, US economic data exceeded everyone’s expectations, with decent support for the domestic currency.

Industrial production (MoM) in November was 0.3%, compared to -0.6% previously. The operating rate in the same month reached the consensus at 79.1% compared to the previous month. It was found to be 78.9%. Consensus for December S&P Global Composite PMI is expected soon. Manufacturing and services PMIs recorded 49.3 and 50.6, respectively. The previous scores are 49.4 and 50.8, in the same order.

A trend that could impact the market is future decisions regarding Federal Reserve interest rates. They have reportedly reached a stalemate and no further escalation is expected. Keeping rates flat, if not lower, is the ideal option.

A downfall would rather free up capital for further investment moves. Needless to say, it will boost the economy along with the US dollar by promoting portfolio diversification.

The trading pair is playing quite an up and down game. The US Dollar Index (DXY) last closed at 101.9560 and later opened at 102.0940. This is when competing with peer currencies.

  • EUR/USD status
    The pair reached 1.1000, testing the previous two-month high of 1.1010. This comes at a time when the European Central Bank is keeping interest rates unchanged. The HCIP composite PMI preliminary index improved from 47.6 to 48.0.
  • GBP/USD status
    The Bank of England decided to take a firm stance based on its hawkish bias. That is pushing the pound higher in the market. The pair touched the 1.2794 mark, making it visible for effect. BoE officials said they refused to absorb the Fed’s gravity as long as inflation appeared to be rooted domestically.
  • USD/CAD status
    The Canadian dollar gained after crude oil prices rebounded. However, the pair continued to decline for two days in a row. The US data release indirectly highlighted the difficulties for the greenback, which will be somewhat affected as it broke the early December low of 1.3470.
  • AUD/USD status
    The US dollar and Australian dollar pair is moving with a bullish umbrella. It hit a four-month high of 0.6730 and is now back to 0.6700. More details on AUD/USD will be released once the Yudo Bank Composite PMI is released.

Gold was caught up in the weak performance of the US dollar. Despite maintaining some gains, the rebound is losing momentum. The test is to stay above the relevant technical level set at $2040..

Market Focus on PMI

The Purchasing Managers’ Index (PMI) measures the health of two sectors of the country. These are manufacturing and service industries. Both form the backbone of the economic recovery and, therefore, the currency. To strengthen USD prices and cross-border commercial relationships, a more robust graph is essential in the ongoing scenario. The PMI report will highlight whether the economy can get back on track in the coming months..

The US dollar’s difficulties will remain evident until an upbeat PMI report boosts market confidence. This can create opportunities to: usa forex broker Attract new customers who want to take advantage of the currency’s potential expanded reach.

conclusion

US data release shows the US dollar is struggling. A positive PMI report can help you better understand whether something better is in store for the currency and economy in the future. Interest rates are less likely to rise and inflation may be in a better position to move capital smoothly.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Dogecoin (DOGE) after collision

June 23, 2025

Litecoin Key Support in Focus Price Eye Brake Out Determination

June 20, 2025
Add A Comment

Comments are closed.

Recent Posts

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Join Earn Mining To Mine Easily And Earn $7752 A Day

June 26, 2025

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Weed® Announces Partnership With Khalifa Kush; Launches Global Commercialization

June 26, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025
Most Popular

Major scientific journal Nature, DeSci Project ResearchHub special feature

December 12, 2024

Cryptocurrency exchange OKX is fixing vulnerabilities in its iOS app and urging users to update.

December 20, 2023

GameStop Sinks After Wild Swing. Can Roaring Kitty make money?

June 4, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.