Welcome to Tuesday!
Greenback drops as American data keeps weighing
On Tuesday, the evergreen buck declined versus other key currencies, as last session’s dismal American economic reports kept weighing and trading was supposed to remain quiet with no American data set to be published throughout the trading session.
The currency pair EUR/USD grew 0.17%, being worth 1.0916.
The US dollar was still under pressure after the Institute of Supply Management told that in April its manufacturing purchasing managers’ index sagged to 54.8 from 57.2 last month, compared to hopes for a drop to 56.5.
A separate report unveiled that in March American personal spending was intact, thus ruining hopes for a 0.2% ascend and after a 0.1% surge.
The currency pair GBP/USD stood still, showing 1.2887.
As for USD/JPY, this currency pair added 0.19%, trading at 112.06, thus demonstrating the highest value since March 31.
The Australian dollar didn’t change, with AUD/USD, keeping to 0.7528 after the country’s major bank left its interest rate intact at 1.50%.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…