The US ISM Manufacturing PMI figures released on Monday confirmed that trade uncertainty is taking its toll on the sector. The PMI declined for its third consecutive time, against expectations of a slight improvement. The employment and new orders subindexes ticked up, with prices declining and delivery times increasing, and rising concerns about potential shortages in some products.
The figures added pressure on an already weak USDollar, but the Greenback managed to pick up during the Asian session, with market sentiment improving somewhat.
In Canada, the strong Gross Domestic Product figures seen last week have cemented expectations that the Bank of Canada will keep interest rates on hold, which is keeping the Canadian dollar’s dips limited.
The figures added pressure on an already weak USDollar, but the Greenback managed to pick up during the Asian session, with market sentiment improving somewhat.
In Canada, the strong Gross Domestic Product figures seen last week have cemented expectations that the Bank of Canada will keep interest rates on hold, which is keeping the Canadian dollar’s dips limited.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.