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US Dollar Remains Firm Despite Soft US PMI, Equities Under Pressure

US Dollar Remains Firm Despite Soft US PMI, Equities Under Pressure

Kaithleen Pesantez,

U.S. PMI Main Talking Points:

  • Markit Manufacturing PMI Flash: 55 actual vs 56.7 estimated
  • Markit Composite PMI Flash: 50.8
  • Markit Services PMI Flash: 50.9 actual vs 57.6 estimated
  • US growth slows to an 18-month low with Omicron wave

U.S. PMI

being an important economic indicator brings to light the difficulties that the manufacturing and service sectors are currently facing because of the pandemic. It is at no surprise that the supply chain issue has continued with labor shortages and disruptions due to rising cases and most recently, Omicron wave.

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DailyFX Economic Calendar

U.S. Dollar

remained firm regardless of 18-month low with the main drivers being demand growth remaining resilient, input price inflation softening, and firms were able to increase their workforce despite labor market conditions.

US Dollar Index Price Chart

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Created by Kaithleen Pesantez

--- Written by Kaithleen Pesantez, Market Strategist for DailyFX.com

Contact and follow Kaithleen on Twitter: @ktpesantez

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

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