Category: Forex News, News
U.S. Dollar Tests Yearly Highs: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY
U.S. Dollar Index rallied as traders focused on ISM Manufacturing PMI report. The report indicated that ISM Manufacturing PMI decreased from 54.6 in August to 54.5 in September, compared to analyst forecast of 55. Numbers above 50 show expansion. The report missed analyst expectations but showed that U.S. economy remained in great shape, which was bullish for the American currency.
Traders also focused on the Initial Jobless Claims report. The report showed that 197,000 Americans filed for unemployment benefits in a week, compared to analyst consensus of 200,000.
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