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US Dollar Shows Mixed Trading Against Majors

US Dollar Shows Mixed Trading Against Majors
Markit Economics data showed that the IHS Markit industrial production index in the US in May was 62.1 points against the original 61.5 points.

US manufacturing activity rose at a faster pace in May, according to a report released by the Institute for Supply Management.

The report said the manufacturing PMI rose to 61.2 points in May, up from 60.7 points in April. A reading above 50 points indicates growth in the manufacturing sector. The rise surprised economists who had expected the index to remain unchanged.
The US dollar index, which rose to 89.92, then fell to 89.66 before recovering again to 89.90.

Against the euro, the US dollar strengthened to 1.2218, recovering from 1.2256. Manufacturing activity in the euro area rose at a record pace in May.

The IHS Markit Manufacturing Purchasing Managers' Index rose to a new all-time high of 63.1 in May from 62.9 in April. Preliminary data showed a value equal to 62.8 points.

The pound sterling fell against the US dollar to 1.4148, almost 0.5% less than the previous close at 1.4213. The UK manufacturing sector grew at a record pace in May on stronger output growth and record growth in new orders despite surging inflationary pressures.
US Dollar Shows Mixed Trading Against Majors

US Dollar Shows Mixed Trading Against Majors

The UK Manufacturing Purchasing Managers Index (PMI) IHS Markit / CIPS climbed to 65.6 in May, up from 60.9 in April, when job creation rose at a record pace.

The yen strengthened at 109.48 against the dollar, up from 109.58.
The Australian dollar gained 0.26% to hit 0.7754 against the US dollar. The Reserve Bank of Australia kept its money rate at an all-time low of 0.1%, as expected. The politicians have confirmed that they will maintain the current monetary conditions until at least 2024, when the actual inflation will be within the target of 2-3%.

The Swiss franc strengthened against the US dollar to 0.8971 from 0.8989. Preliminary data from the Federal Statistical Office showed that retail sales in Switzerland rose 35.7% year-on-year in April.
The loonie weakened to 1.2073 against the US dollar, down from 1.2064 despite higher crude oil prices. Data released by Statistics Canada showed that the country's GDP grew 1.4% in the first quarter of 2021, after rising by a downwardly revised 2.2% in the previous quarter.
According to Markit Economics, the IHS Markit Canada Manufacturing PMI fell to 57 points in May 2021 from 57.2 points in the previous month. Nonetheless, manufacturing activity rose for the 11th straight month.

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