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USD Gains on US-China Hopes and ISM Rebound, NZD Slides on Jobs Data

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The dollar continued drifting north yesterday, buoyed by the optimism surrounding the US-China “phase one” deal, as well as by the bigger-than-expected rebound in the ISM non-manufacturing index for October. The Kiwi was the main loser among the G10s, coming under selling interest after New Zealand’s soft employment report for Q3.

ISM NON-MANUF. REBOUNDS MORE THAN EXPECTED, NZ JOBS REPORT DISAPPOINTS

The dollar continued trading higher against all but one of the other G10 currencies on Tuesday and during the Asian morning Wednesday. It gained the most against NZD, NOK and CHF in that order, while the currency against which it failed to eke out any gains was GBP.

Read the full article on JFD Research.

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Source: https://www.jfdbank.com/en/research/usd-gains-on-us-china-hopes-and-ism-rebound-nzd-slides-on-jobs-data-20191106
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