Following a poor result in the US ISM manufacturing index fell which slipped 0.2pts to 48.1 in November, President Donald Trump tweets:
Manufacturers are being held back by the strong Dollar, which is being propped up by the ridiculous policies of the Federal Reserve – Which has called interest rates and quantitative tightening wrong from the first days of Jay Powell!
The US ISM manufacturing index fell 0.2pts to 48.1 in November as analysts at ANZ Bank described as "a negligible decline", and noted that the data was pushed lower by weakness in employment (46.6 vs 47.7) and new orders (47.2 vs 49.1). "Nonetheless, it was the fourth consecutive month below 50. By contrast, the Markit manufacturing PMI rose. Within the breakdown, new orders lifted 0.5pts to 53.0, new export orders fell 0.3pts to 50.7 and employment rose 0.8pts to 52.3. Output prices rose 1.7pts to 51.1 and input prices rose 0.8pts to 52.3. Overall, the data showed US manufacturing activity is still struggling."
Forex Today: Dollar starts the week with the wrong footing