"it is interesting that the dollar is already starting to regain ground this morning. The US position as the best economy of a bad bunch is still a key factor in the outlook for major forex pairs." Great manipulation, no reason for USD up now.
US Dollar looking to stabilise as after ISM concern for risk
The US/China trade dispute is really impacting across the major economies, driving a global slowdown. PMI data from manufacturing sectors paint a starkly gloomy picture of contraction. The question is how long, or whether at all, can the services sectors of these major economies (which still drive the bulk of economic growth) be insulated? With the supply lines negatively impacted, capex programs restricted and new order flows falling, negativity surrounding global growth prospects is growing. The US dollar took a hit yesterday as the ISM Manufacturing data hit its lowest level (47.8) since 2009. Equity markets and ... (full story)