The USD is bouncing from the projected support area around 94. Further, some economic data came in firm this week and ISM was stable, with its exports component bouncing solidly. That was in keeping with the weakening dollar easing the pressure as a rising dollar had increased it. Continued firm data could attend an expected bounce in USD.
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Well, April ISM came in flat to March at 51.5%. The notables are highlighted, including exports, which got a boost in light of the weaker USD. Funny how that works.…
A few days ago we noted the small bounce in machine tools and other capital equipment orders for March. Yesterday the Chicago PMI came in firm. Today is Markit PMI…