Dollar moves lower helped by the weaker flash PMI data

The US dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term has move lower after the weaker than expected flas PMI data. The yields are moving lower at least in the short end. US stocks are mixed with the NASDAQ moving a bit higher on the dollar selling and lower yields (even though the data was weaker – bad news can be good news).

EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be Read this Term: The EURUSD has move back above the July 14 low at 0.91515. The next upside target comes near the parity level. The high price has reached 0.99896 so far and currently trades at 0.9978

GBPUSD: The GBPUSD has move back above the swing lows from July between 1.1759 and 1.18062. The current prices trading at 1.18475 on the follow-through buying. The following 100 hour moving average is still some 50 pips away at 1.1890. Support for buyers is now at the 1.1803 area.

USDJPY: The USDJPY has move back below a swing area between 136914 and 137.152. It looks down toward its 100 hour moving average 136.373 as the next downside target.

USDCHF: The USDCHF has move back below its 100 day moving average after breaking above with momentum earlier in the European session. The 100 day moving average comes in at 0.96515. The close yesterday was 0.9644. The price of the USDCHF has been up for six consecutive days. With the price currently trading at 0.9642, that string is in jeopardy of being snapped.