The dollar was strong yesterday as non-manufacturing PMI rose to 54.7 in October, beating expectations of 53.5. Business activity, employment and new orders all grew at faster rates.
Balance of trade figures were also released yesterday, showing that the trade deficit narrowed as expected. This was the lowest trade gap since April as imports from Germany and China declined. Exports declined 0.9% led by soybeans and automobiles, while imports slumped 1.7%.
In US-China trade news, China is pushing for the proposed December tariffs to be removed and also to eliminate the tariffs added in September.
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