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Dollar rallied and Yen fell against the major currencies

2019-07-01 04:12 pm | Resource: News | No Views : 95

 Dollar rallied and Yen fell against the major currencies

The greenback was up despite red data as US construction spending fell in May and US manufacturing PMI fell.

Construction spending in the US falls in May

Construction spending in the United States came at a seasonally adjusted annual rate of $ 1,293.9 billion, down 0.8 percent on a monthly basis, the US Bureau of Statistics said on Monday. On an annualized basis, construction spending fell in May by 2.3%.

The private construction was seasonally adjusted at a seasonally adjusted rate of $ 953.2 billion, or 0.7% below April revised estimates. Meanwhile, residential construction fell by 0.6% on a monthly basis, while non-residential construction fell 0.9% from April's revised estimate of $ 458.5 billion.

In May, the estimated annual rate and seasonally adjusted spending on public construction was $ 340.6 billion, down 0.9% from April, while the educational construction amounted to $ 79.3 billion and remained almost unchanged from the previous month. Highway construction recorded the biggest drop, losing 3.2 percent from April's revised estimate of $ 115.4 billion.

Industrial PMI rose 51.7% in June

Manufacturing PMI in the United States fell to 51.7% in June from 52.1% in May as manufacturing activity expanded, the Institute of Supply Management announced in a report on Monday.

Meanwhile, the new orders index fell 2.7 percentage points in May and was at 50% in June. Production grew faster, following a 34-month trend, but slower delivery of suppliers. The employment index rose from 53.7 in May to 54.5 in June and the price index fell by 5.3 points to 47.9 in June. New export orders grew more slowly in June, complying with the previous month and the import trend did not change, with the index rising 0.6 points to 50 percent.

"Participants were concerned about the trade disruptions between the United States and China, and possible trade measures in Mexico and the global economy," said Timothy Fiore, chairman of the ISM Manufacturing Survey Committee.

Basic Currencies Trading
  • The Dollar rose to 1.1305 against the Euro.
  • The Dollar rose to 0.9802 against the Swiss Franc.
  • The greenback was up 0.46% and the greenback was trading at 108.45 against the yen.
  • Against the yen, the pound was up 0.02% against the yen at 137.73000 yen.
  • The greenback rose against the pound to trade at $ 1.3013.
  • The British currency lost against the euro to trade at 1.2643 euros.
  • The pound rose 0.54% against the franc to trade at 1.2469.


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