NEW YORK, Oct. 25 — The US dollar increased in late trading on Tuesday, as the S&P Global Manufacturing Purchasing Managers’ Index (PMI) in the United States rose, while the eurozone October PMI hit near 3-year low, stirring recession worries, reported Xinhua.
The dollar index, which measures the greenback against six major peers, increased 0.69 per cent to 106.2679 in late trading.
The US S&P Global Composite PMI edged up to 51 in October from 50.2 in September, the S&P Global reported on Tuesday. The manufacturing PMI edged higher to 50 in October from 49.8 in September, while the services PMI rose to 50.9 from 50.1. Both readings came in higher than analysts’ estimates.
HCOB’s flash eurozone composite PMI, released by S&P Global on early Tuesday and seen as a good guide to overall economic health, fell to 46.5 in October from September’s 47.2 and the lowest level since November 2020.
In late New York trading, the euro fell to US$1.0589 from US$1.0674 in the previous session. “The flash PMIs mark a poor start to October for the eurozone, especially after showing some early signs of recovery in September,” said Rory Fennessy at Oxford Economics.
Preliminary Britain Services business activity index reached a nine-month low of 49.2 in October, compared with the final print of 49.3 for September and the expected figure of 49.5. The British pound decreased to US$1.2162 from US$1.2255 in the previous session.
The US dollar bought 149.8990 Japanese yen, higher than 149.5640 Japanese yen of the previous session. The US dollar was up to 0.8932 Swiss francs from 0.8910 Swiss francs, and it increased to 1.3730 Canadian dollars from 1.3682 Canadian dollars. The US dollar rose to 11.1128 Swedish krona from 10.9599 Swedish krona.
