Forex Top Team

Dollar selling reaction to weakness in US service industry PMI

the US PMI for the August survey was released, and the service industry PMI dropped to 44.1 more than expected, prompting stronger dollar selling. The dollar/yen fell to the 136 yen level and the euro/dollar was bought back to the high $0.99 level.

Preliminary US PMI (August) 22:45
manufacturing industry
Result 51.3
Forecast 52.0 Last time 52.2

Result 44.1
Forecast 50.1 Last time 47.3

Result 45.0
Forecast: N/A Last time: 47.7

In addition to this, the number of newly built houses sold in July has fallen, and the USD is selling strongly. I assumed that it would be easily swayed by economic indicators, so I switched to selling USD immediately and switched to buying GOLD earlier.

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