Virus worries continue to fuel the dollar, with manufacturing PMI data for various countries showing a decline yesterday. The US’s manufacturing figure also fell into contraction territory, coming in lower than expected at 48.5.
Data showing private sector jobs loss for March were much lower than expected, however, the survey was conducted in mid-March, so has not fully captured the full impact of the coronavirus.
We’ll see more data releases for the US today, including Balance of Trade data for February and Jobless Claims figures for March. Jobless claims are expected to show a significant increase due to the coronavirus pandemic.
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