We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • As risk sentiment takes a turn lower, high-beta currencies such as the Australian Dollar has been among the underperformers. Get your $AUDUSD market update from @JMcQueenFX here: https://t.co/nXadRykouT https://t.co/szzQ0PKNR2
  • Heads Up:🇨🇦 BoC Gov Poloz Speech due at 17:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-05-25
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.43%, while traders in US 500 are at opposite extremes with 77.00%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xjdScTDBXn
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 2.57% Gold: -0.32% Silver: -0.56% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/nRUi0hbwoO
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.28% 🇬🇧GBP: 0.25% 🇦🇺AUD: 0.17% 🇨🇭CHF: 0.04% 🇯🇵JPY: -0.07% 🇪🇺EUR: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/noQ2M4dTit
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: US 500: 1.29% Wall Street: 1.24% France 40: 0.15% Germany 30: 0.10% FTSE 100: 0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/AiUmtoNeVW
  • The British Pound is under renewed selling pressure this morning after BoE deputy governor for banking and markets said that the central bank is keeping ‘our whole tool set under active review'. Get your $GBPUSD market update from @nickcawley1 here: https://t.co/fY4HewczpL https://t.co/AX1qMeq8ks
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.31% 🇨🇦CAD: 0.19% 🇦🇺AUD: 0.18% 🇨🇭CHF: 0.04% 🇪🇺EUR: -0.05% 🇯🇵JPY: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qsrBgSzbb9
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.48% France 40: 1.56% FTSE 100: 1.37% US 500: 1.27% Wall Street: 1.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/U88jwizBUy
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.62% Gold: -0.43% Silver: -0.80% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/E0JIHB34kq
USD Weakness Abates on Flash Manufacturing PMI

USD Weakness Abates on Flash Manufacturing PMI

2020-05-21 13:45:00
Austin Sealey, Contributor
Share:

US Manufacturing PMI Flash Talking Points:

  • This morning brought the release of US Manufacturing PMI data, beating the expectation with a print at 39.8
  • May Flash Manufacturing PMI release follows a month of steep contraction in the manufacturing sector
  • The US Dollar is testing support after spending nearly two months range-bound

Manufacturing PMI Flash Beats the Expectation

The IHS Markit Flash Manufacturing PMI printed this morning at 39.8 versus the expectation of 38.0. Last month’s figure was revised down from 36.9 to 36.1, and came in well below the March print of 48.5. The April manufacturing print was the lowest on record since 2009, largely due to the pandemic. As economic indicators like this continue to point toward lower economic output, GDP comes back into the limelight.

Building Confidence in Trading
Building Confidence in Trading
Recommended by Austin Sealey
Building Confidence in Trading
Get My Guide

This widely-watched indicator for us economic activity monitors changes in production levels from month to month. The index gives equal weight to new orders, production, employment, supplier deliveries, and inventories. The threshold for growth and contraction is at the 50 level. As can be seen in the chart below, this morning's print may mark a turning point for the US manufacturing sector, as we are now coming off of several consecutive months of decline.

US Markit Manufacturing PMI

Chart Prepared by Austin Sealey; Markit Manufacturing PMI Flash

The USD has remained largely range-bound since selling off in late March. Although the bottom of the range extends down to roughly 98.25, the currency is searching for support at 99.0 at the time of this release. Stay up to date on the latest and most important economic indicators with the DailyFX economic calendar as markets eye events in the week ahead.

US Dollar Eight-Hour Price Chart

DXY Eight-Hour Price Chart

Chart Prepared by Austin Sealey; DXY on TradingView

-- Written By Austin Sealey, Contributor for DailyFX.com

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

DISCLOSURES

News & Analysis at your fingertips.