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Indonesia News Portal for Traders | Financial & Business Updates

24 December 2024 22:58  |

US Dollar Trades Flat While Traders are Make Their Way to The Christmas Table

The US Dollar (USD) trades with small gains on Tuesday, seeing the DXY Index trade slightly above 108.00, as markets are starting to unwind towards the Christmas holiday.  The Greenback failed to significantly move despite news that China’s policymakers are floating the idea of selling nearly 3 trillion Yuan (CNH) in special treasury bonds in 2025, Reuters reported on Tuesday. The additional capital should boost the slowing and sluggish Chinese economy.

The US economic calendar is a very light one on Tuesday, with just minor indicators such as the Philadelphia Fed Non-Manufacturing Activity Index and the Richmond Fed Manufacturing Index regional surveys for December. One main takeaway for the last few data points of December is that the US manufacturing sector is sounding the alarm bell, with several indicators confirming the sector is falling further into contraction.

Source : Fxstreet

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