The dollar index (DXY00) fell by -0.02% on Friday, holding just above Thursday's 3.25-month low. Strength in stocks on Friday reduced demand for dollar liquidity. The dollar is still weighed down by negative carryover from Wednesday, when the US Treasury boosted liquidity and announced plans to increase buybacks of long-dated bonds. Friday's US economic news was mixed for the dollar, with the Aug S&P manufacturing PMI falling more than expected, but the Aug S&P services PMI rising more than expected.
The US Aug S&P manufacturing PMI fell -0.7 to 53.2, weaker than expectations of no change at 53.9, but the Aug S&P services PMI unexpectedly rose +2.8 to 56.8, stronger than expectations of a decline to 54.0 and the fastest pace of expansion in 4.5-years.
Dollar Little Changed as Stocks Climb and Crude Oil Stabilizes
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The markets are discounting a 40% probability of a +25 bp rate hike at the next FOMC meeting on September 15-16.
#fell #expected
The US Aug S&P manufacturing PMI fell -0.7 to 53.2, weaker than expectations of no change at 53.9, but the Aug S&P services PMI unexpectedly rose +2.8 to 56.8, stronger than expectations of a decline to 54.0 and the fastest pace of expansion in 4.5-years.
Dollar Little Changed as Stocks Climb and Crude Oil Stabilizes
Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, ***** ysis, and headlines.
The markets are discounting a 40% probability of a +25 bp rate hike at the next FOMC meeting on September 15-16.
#fell #expected
21 hours ago
