The Dollar index largely maintained altitude through the N. Europe following weak EU PMIs, and negative Bund yields, which weighed heavily on EUR-USD. Comentários Forex DXY peaked at six-session highs of 96.
OVERVIEW The Dollar Index touches a seven-day high after the Eurozone stumbles on poor PMIs The stalling economy sent the euro in negative territory, down 0. HIGHLIGHT The euro is under heavy selling pressure this morning after PMI data revealed that economic growth is stalling. The Dollar traded mixed, gaining sharply agains the Euro following underwhelming PMI data out of the Eurozone, while concurrently losing ground to the Pound, which traded firmer after the EU granted a delay in Brexit. The Pound has traded firmer in the wake of the EU granting an extension in the Brexit process. A two-week delay has been stimulated for UK Prime Minister May to get her deal through Parliament or come up with another plan. If the PM’s deal is passed, then the UK would have until to May 22 to get the necessary withdrawal legislation done before exiting the EU.
The Dollar shrugged off Wednesday’s dovish FOMC result in N. Thursday, as the DXY rallied to pre-Fed levels though the session. The resiliency of the dollar was impressive given the FOMC, though this could be a case of the USD being the cleanest dirty shirt in the hamper. The Dollar managed to recoup some of the losses seen after the Fed reaffirmed its dovish turn yesterday.