The risk-off sentiment prevailed on Tuesday, motivating the Greenback to regain some balance despite yields retreated in the global money markets.
Moving forward, its PMI -day on Wednesday ahead of key data releases in the US . Here is what you need to know on Wednesday, July 24: The USD Index posted modest gains and revisited the 104.50 zone despite US yields edged lower. On July 24, advanced Goods Trade Balance is due in the first turn seconded by New Home Sales, and the preliminary S&P Global Manufacturing and Services PMI s. EUR/USD retreated markedly to multi-day lows near 1.0840 following the broad-based risk aversion theme.
The advanced S&P Global Manufacturing and Services PMIs will be at the centre of the debate in the UK on July 24. USD/JPY added to Monday’s retracement and flirted with multi-week lows south of the 156.00 level. The preliminary Jibun Bank Manufacturing and Services PMIs are next on tap on July 24. There was no respite for the downside pressure in AUD/USD, prompting the pair to trade at shouting distance from the 0.6600 region.
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