Continuum Economics
  • Search
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
  • Calendar
  • Forecasts
  • Events
  • Data
  • Newsletters
  • My Alerts
  • Community
  • Directory
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
    • All
    • Thematic
    • Tactical
    • Asia
    • EMEA
    • Americas
    • Newsletters
    • Freemium
    • Editor's Choice
    • Most Viewed
    • Most Shared
    • Most Liked
  • Calendar
    • Interactive
      • China
      • United States
      • Eurozone
      • United Kingdom
    • Month Ahead
    • Reviews
    • Previews
  • Forecasts
    • Forecasts
    • Key Views
  • Events
    • Media
    • Conference Calls
  • Data
    • Country Insights
    • Shadow Credit Ratings
    • Full CI Data Download
  • Newsletters
  • My Alerts
  • Community
    • FX
    • Fixed Income
    • Macro Strategy
    • Credit Markets
    • Equities
    • Commodities
    • Precious Metals
    • Renewables
  • Directory
  • My Account
  • Notifications Setup
  • Account Details
  • Recent Devices
  • Distribution Lists
  • Shared Free Trials
  • Saved Articles
  • Shared Alerts
  • My Posts
Published: 2024-04-23T14:09:14.000Z

USD flows: USD down after weaker S&P PMIs

byAdrian Schmidt

Senior FX Strategist
1

USD lower as S&P PMIs dip unexpectedly

The USD has been knocked lower by much weaker than expected S&P PMIs, following on from stronger numbers in Europe and Japan. The correlation of these indices with GDP growth is far from perfect, and it will take more than this to convince the market that Europe and Japan are catching up to US growth. But the US data is enough to push US yields lower on the day and soften the USD. European yields have also been dragged lower by the weaker US data, despite the stronger European numbers, so there hasn’t been much movement in US/Europe yield spreads. This ought to mean that there is a bigger impact on USD/JPY than USD/Europe, but so far that hasn’t been the case, partly because equities are benefiting from the lower US yields.

Continue to read the article for free
Login

or

or

Topics
Foreign Exchange
FX DM
Flows
EUR/USD-Commentary
USD/JPY-Commentary

GENERAL

  • Home
  • About Us
  • Our Team
  • Careers

LEGAL

  • Terms and Conditions
  • Privacy Policy
  • Compliance
  • GDPR

GET IN TOUCH

  • Contact Us
Continuum Economics
The Technical Analyst Awards Winner 2021
The Technical Analyst Awards Finalist 2020
image