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Graphic Rewind: Dollar Rises on Manufacturing Data from the US and Europe

Graphic Rewind: Dollar Rises on Manufacturing Data from the US and Europe

2013-12-02 20:44:00
Benjamin Spier, Technical Strategist
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Talking Points:

  • US Dollar rises on manufacturing data from Europe and the US
  • Euro declines despite an improvement in the PMI

A look back at the past 24 hours of Forex trading using movements in the US Dollar Index:

US Dollar 15-Minute 17:00 12/01 to 12:00 12/02 EST

Graphic_Rewind_US_Dollar_Rises_on_Manufacturing_Data_from_the_US_and_Europe_body_Picture_1.png, Graphic Rewind: Dollar Rises on Manufacturing Data from the US and Europe

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The Dow Jones FXCM Dollar Index climbed higher in the first day of trading this week, as mixed manufacturing data only helped the greenback rally.

After an initial decline in the Tokyo session, the US Dollar rose to a new 3-day high over the London hours. Euro-zone PMI for manufacturing was reported better than expected, but the Euro still saw a decline at the time, possibly as a reaction to disappointing PMI’s from Spain and Ireland.

In the NY session, US ISM Manufacturing significantly beat expectations for the November release. The greenback just met a 4-day high on the hike in trading after the ISM release.

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Charts created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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