US Dollar is Trying to Restore, But Momentum is Weak

Market Reviews

The US dollar is trying to recover in anticipation of the FOMC protocol, but this momentum is still unconvincing. The British pound falls after weaker than expected data, but remains robust against major currencies. In December, activity in the UK construction sector grew more slowly than in the previous month. The Purchasing Managers’ Index (PMI) in the construction sector fell more than expected to 52.2 in December from 53.1 in November.

The euro also weakened against the dollar amid a large-scale recovery of the US currency before the release of US Manufacturing PMI and the minutes of the Fed meeting.

Jobless claims in Germany fell more than expected in December, while the unemployment rate remained at a record low. Jobless claims fell by 29.000 in December. The unemployment rate in Germany was 5.5%.