USD Declined Despite Positive Economic Data

The US Dollar (USD) declined on Friday across the board, despite an expansion in business activity in the US, as shown by the most recent PMI reading.

The Dollar Index (DXY), which measures the USD performance against a basket of six international currencies is down by 0.20% at 92.76, after closing Thursday at 92.95.

The index has been moving in a daily range between 92.66 and 93.13, showing some fluctuations but mostly moving in the negative into the negative territory.

The seasonally adjusted IHS Markit Flash United States Composite Output Purchasing Managers’ Index (PMI) posted 55.5 at the start of the final quarter of 2020, up from 54.3 in September,

Meanwhile, the seasonally adjusted IHS Markit Flash U.S. Services PMI Business Activity Index registered 56.0 in October, up from 54.6 in September, and the IHS Markit Flash U.S. Manufacturing Purchasing Managers’ Index (PMI) posted 53.3 last month, up fractionally from 53.2 in September.