The dollar gained on the euro during the first trading day of the week even though New York manufacturing sector demonstrated terrible performance. The data did not hurt the US currency much. Traders wait for the FOMC minutes scheduled for release on Wednesday that may shed light on thr plans and the sentiment of US policy makers. Perhaps, the optimism regarding the minutes could explain the strength of the greenback on Monday.
NY Empire State Index provided a nasty surprise to market participants (at least those of them who are bullish on the dollar) demonstrating a reading of -14.9 in August. The awful figure was nowhere near the forecast value of 5.0 and the July’s 3.9. (Event A on the chart.)
Net foreign purchases were at $103.1 billion in June. This is compared to the May’s $93.0 billion and the value of $23.0 billion predicted by experts. (Event B on the chart.)
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