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US ISM Manuf. PMI Disappoints, RBA Holds Rates Steady

JFD

Global equity indices and the US dollar fell yesterday after Trump decided to impose tariffs on Brazil and Argentina, as well as after the ISM manufacturing PMI for November slid further into the contractionary territory. The Aussie was the main gainer, coming under buying interest after the RBA held interest rates on hold, and hinted that it may stay sidelined longer than the market has thought.

US Manufacturing Contracts Further, AUD Gains After RBA Decision

The dollar traded lower against all but one of the other G10 currencies. It underperformed the most against AUD, NZD and CHF in that order, while it lost the least ground versus GBP, JPY and SEK. The greenback gained fractionally only against CAD.

In the equity world, major EU and US indices tumbled, with the negative sentiment rolling, but to a lesser extent, into the Asian session today. The drivers may have been Trump’s decision to...

Read the full financial markets daily report on JFD Research.

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Source: https://www.jfdbank.com/en/research/us-ism-manuf-pmi-disappoints-rba-holds-rates-steady-20191203
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