The U.S. dollar traded near a recent three-month low on Monday on weak manufactu...
LONDON - The U.S. dollar traded near a recent three-month low on Monday on weak manufacturing surveys, while the Australian dollar lifted after the central bank cut interest rates as expected but signaled a more balanced outlook.
JPMorgan’s gauge of global manufacturing fell to its weakest in almost seven years, showing a contraction in the sector for the second month in a row, while Morgan Stanley’s own surveys showed world manufacturing shrinking for the first time since 2016. However, the dollar’s losses were relatively tiny in comparison with Monday’s 0.6% bounce when global risky assets rallied on relief of waning trade tensions between Washington and China.
The global investor spotlight will move to U.S. non-farm payrolls data due on Friday, which economists expect to have risen by 160,000 in June, compared with a 75,000 increase in May.bounced 0.3% after a central bank rate cut decision offered few clues about future easing.
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