Strong US Manufacturing Data Boosts Dollar Outlook
The ISM manufacturing index surged to 55.6 in July, beating forecasts and signaling robust factory activity. Danske Bank highlights the positive cyclical backdrop for the US dollar.
DXY
Danske Bank’s research team points to solid cyclical momentum in the United States, as the ISM manufacturing index climbed to 55.6 in July. That reading topped both market expectations and the prior month’s figure.
New orders, employment, and production all strengthened, reinforcing the picture of firm factory activity. The data add to the focus on upcoming JOLTS job openings, which could further shape the near-term dollar narrative.
Source: FXStreet Forex News