Graphic Rewind: USD Shows Conviction to the Downside After an ISM Decline
- US Dollar falls on a surprise ISM decline for December
- The greenback found a range in London and overnight trading despite the PMI releases
A look back at the past 24 hours of Forex trading using movements in the US Dollar Index:
US Dollar 15-Minute 17:00 01/05 to 12:00 01/06 EST
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The Dow Jones FXCM US Dollar Index is trading slightly lower at the start of the new week, following a disappointing US ISM for services release.
The greenback climbed higher during overnight trading between Sunday and Monday, and the rise was partially due to a decline in Aussie on the disappointing HSBC Chinese PMI for services.
The US Dollar continued to trade in a tight range over the London session, only rising slightly against the Pound on the release of a
Finally, the dollar showed some conviction in the NY session. The greenback declined against other Forex majors on the release of a surprise decline in the ISM index for non-manufacturing for December. An improvement in the employment gauge couldn’t stop the greenback losses, which were particularly bad against the Euro and Yen.
Charts created by Benjamin Spier using Marketscope 2.0
-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to firstname.lastname@example.org .
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