English
The dollar deepens its losses for the second session
The US dollar fell clearly during trading on Friday, hurt by market expectations regarding the end of the US interest rate hike cycle, in addition to the negativity of some economic data in the country during the current month of November.
Regarding today’s currency market trading, we note that the US dollar index (which measures the performance of the green currency against a group of other currencies) recorded a decline of about 0.32% to settle near the level of 103.415 points.
As for the weekly performance of the dollar, it can be noted that the green currency is heading to incur losses for the second week in a row, as the total losses of the green currency since the first trading of this week until now have reached about 0.39%.
The negative data of the Purchasing Managers' Index for the manufacturing sector in the United States, issued today, contributed to strengthening the downward path of the dollar's performance in the currency market, as the data revealed that the manufacturing sector had entered the contraction zone below the record level of 50 points, recording about 49.4 points, worse than market expectations, which were likely The index decreased by about 49.9 points, noting that the previous reading of the manufacturing purchasing managers’ index had stabilized at 50 points.
