The US Dollar trades in the green against all major G20 peers.
Markets brace for US PMI numbers after digesting disappointing comments out of China’s National People’s Congress.
The US Dollar Index still orbits around 104.00, and PMI data could be market-moving.
The US Dollar (USD) fires up on the second day of the week with Super Tuesday taking place, with former US President Donald Trump expected to further book gains in the needed votes to become the candidate for the Republican Party. Overnight, the US Dollar got a boost as markets were disappointed with the economic headlines coming from China’s National People’s Congress (NPC). Markets were expecting more stimulus from the world’s second-largest economy, and are now punishing the Chinese Yuan (CNY), which helps the Greenback gain ground.
On the economic calendar front, S&P Global will publish the final reading of the Services and Composite Purchasing Managers Index (PMI) numbers for February. More importantly for markets, the Institute for Supply Management (ISM) is set to release its own PMI data for the US Services sector. With this agenda, markets will have plenty of data to digest and to position ahead of the European Central Bank (ECB) rate decision on Thursday and other important US data releases at the end of the week.
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