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Dollar Slides to 10-Day Low Ahead of Payroll Data


Friday, 1 November 2019 15:50 WIB

DOLLARCurrencyPoundsterlingEUR/USD


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The dollar fell to its lowest in some 10 days in early trading in Europe amid hopes that the world economy may be bottoming out.

Those hopes rested largely on a Chinese business survey by Caixin/IHS Markit, which showed the strongest improvement in operating conditions for Chinese manufacturers since February 2017. Output and new orders both expanded at steeper rates, with the latter supported by a renewed increase in export business.

That contrasted sharply with a more gloomy reading from the state-compiled PMI earlier in the week, which showed continued weakness.

By 4:30 AM ET, the dollar index, which tracks the dollar against a basket of developed market currencies, was down 0.1% at 97.037, on course for a 0.6% drop on the week. Sterling was up 0.2% at $1.2966 while EUR/USD was up 0.1% at $1.1157.

Source : Investing.com


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