{"id":169907,"date":"2020-05-04T07:22:29","date_gmt":"2020-05-04T11:22:29","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=169907"},"modified":"2020-05-04T07:17:30","modified_gmt":"2020-05-04T11:17:30","slug":"dollar-index-brushes-off-worst-ever-ism-manufacturing-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/05\/dollar-index-brushes-off-worst-ever-ism-manufacturing-data\/","title":{"rendered":"Dollar index brushes off worst-ever ISM manufacturing data"},"content":{"rendered":"
May 4, 2020<\/div>
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By Han Tan, Market Analyst, ForexTime<\/a><\/strong><\/p>\n

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At the start of the new trading week, the Dollar index (DXY) picked up from where it left off by adding 0.2 percent since\u00a0Friday’s close. Despite the Greenback now gaining against all G10 and Asian currencies, except for the Japanese Yen in a sign of fragile risk sentiment at the onset of the week, the DXY however appeared to be losing some steam as it got closer to the 99.4\u00a0line.<\/p>\n

The US Dollar well supported by the Federal Reserve\u2019s interventions as well as the overall risk aversion evident in the FX markets. Despite the April ISM manufacturing index recording its steepest drop on record, the reading of 36.1 still came in better than expected, which could have provided some extra support for the Greenback.<\/p>\n

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Freaky Friday:\u00a0US jobs report widely-expected to be painful<\/strong><\/p>\n

Data watchers will\u00a0be training their sights on Friday\u2019s monumental US non-farm payrolls print, which is widely expected to post its sharpest deterioration since records began in 1939. Markets are expecting over 21 million jobs to have been wiped out from the US labour market in April, which would be three-times the job losses from March, likely sending the unemployment rate soaring to 16 percent.<\/p>\n

However, given that the distressing data is already roundly forecasted by the markets, the announcement should have relatively less of an impact on the markets, with the Dollar further aided by the Fed\u2019s supportive measures. That should keep the DXY rangebound for the time being,\u00a0within the 98.5 \u2013 101 levels,\u00a0as global investors continue assessing their risk portfolios while staying abreast with the latest on Covid-19\u2019s impact on the global economy.<\/p>\n

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Disclaimer: <\/strong>The content in this article comprises personal opinions and should not be construed as containing personal and\/or other investment advice and\/or an offer of and\/or solicitation for any transactions in financial instruments and\/or a guarantee and\/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.<\/em><\/p>\n<\/div>\n

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\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>\n

ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Han Tan, Market Analyst, ForexTime At the start of the new trading week, the Dollar index (DXY) picked up from where it left off by adding 0.2 percent since\u00a0Friday’s close. Despite the Greenback now gaining against all G10 and Asian currencies, except for the Japanese Yen in a sign of fragile risk sentiment at […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-169907","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/169907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=169907"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/169907\/revisions"}],"predecessor-version":[{"id":169923,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/169907\/revisions\/169923"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=169907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=169907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=169907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}