Article Highlights

  • Philly Fed manufacturing index at -6.3 vs. 9.2 estimate
  • U.S. headline and core CPI post 0.1% upticks as expected
  • U.S. initial jobless claims at 336K as expected
  • U.S. flash manufacturing PMI up from 53.7 to 56.7 vs. 53.6 consensus
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The Greenback chalked up another mixed performance against its major currency counterparts, as data from the U.S. economy came in mixed as well. The Philly Fed manufacturing index surprised to the downside when it fell from 9.4 to -6.3, much lower than the estimated 9.2 reading. Both headline and core CPI figures came in as expected and showed 0.1% upticks while the initial jobless claims also came in line with consensus at 336K. Lastly, the U.S. flash manufacturing PMI turned out stronger than expected as it jumped from 53.7 to 56.7, surpassing the consensus at 53.6.

By the end of the U.S. session, the Greenback returned some of its recent gains to the euro and Aussie but edged slightly higher against the pound and the Swiss franc. USD/JPY saw significant gains, as the pair soared from an intraday low of 101.67 to a high of 102.41.

There are no major reports lined up in today’s Asian trading session so it could be up to risk sentiment to push currency pairs around in the next few hours. Take note though that BOJ Governor Kuroda is scheduled to testify in front of Parliament today so expect a bit of volatility among yen pairs. Stay on your toes for potential profit-taking scenarios as well!

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