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The U.S. Dollar (USD) is trading lower against major currencies on Wednesday, after the release of economic data that showed mixed conditions in the manufacturing sector and the jobs market.
The Dollar Index (DXY) is up 0.23% at 92.42 in early trades after turning to the negative territory before the beginning of the American session.
Earlier, data showed that the U.S. manufacturing purchasing managers’ index (PMI) posted 59.9 in August, rising by 0.5% compared to 59.5 in July, with the Employment Index declining to 49 from 52.9, and the Prices Paid Index retreating to 79.4 from 85.7, while the New Orders Index rose to 66.7 from 64.9.
Moreover, employment in the U.S. private sector increased by 374,000 in August, as per the monthly data published by the Automatic Data Processing (ADP) Research Institute. This reading followed July’s increase of 326,000, revised downwards from 330,000, but missed market expectations of a 613,000 rise.
