Dollar pulls back ahead of US manufacturing data

2021-05-03 13:27:58 GMT (Economies.com)
Dollar pulls back ahead of US manufacturing data

The US dollar fell on Monday, and paused its 2-day recovery from a 2-month low following a drop in the 10-year US treasury yields this week, and ahead of the release of key data in the US manufacturing sector in April.

 

The dollar index fell over 0.5% to 91.08 points, after opening at 91.29 points, and hit a high of 91.38 points.

 

The US dollar gained 0.75% on Friday, its second straight daily gain, within recovery attempts from a 2-month low of 90.42 points.

 

In terms of last month's transactions, the US dollar index lost 2.1%, in its first monthly loss this year, due to the high risk appetite that dominated investors, after the US Treasury bond yield fell to its lowest level in five weeks, in light of repeated assurances by officials. Federal Reserve, that the rise in inflation in the recent period is temporary.

 

The greenback lost 2.1% last month, and posted its first monthly loss this year, due to the improved risk appetite after the US Treasury bond yield fell to a 5-week low, the successive assurances by Fed officials that the recent rise in inflation is temporary.

 

The 10-year US treasury yields this week, after US Treasury Secretary Janet Yellen on Sunday tamped down concerns that President Joe Biden's plans for infrastructure, jobs and families will cause inflation, saying the spending will be phased in over a decade

 

At 14:00 GMT, the ISM manufacturing PMI is expected up to 65.0 points in April from 64.7 points in March.

 

At 18:20 GMT, Federal Reserve Chairman Jerome Powell will speak about community development at an online conference, audience questions are expected.

 
 
 
  Symbol Last Change Chg.%
1.2091
-0.0082
0.6724%
1.4038
-0.0098
0.6933%
Tadawul
10322.68
86.96
0.85%
26.922
-0.882
3.174%
64.301
-1.091
1.668%
67.87
-1.44
2.08%
1818.255
-25.970
1.408%
 
 
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