Forex

Dollar holds after weak data

2021-10-18 18:10:33 GMT (Economies.com)

The US dollar held against most currencies on Monday, after the release of disappointing data.

 

Data showed today that the US industrial production index fell by 1.3% during September.

 

China's real GDP reading showed a growth by 4.9% during the third quarter, lower than forecasts of 5%, and lower than the previous reading of 7.9%.

 

The market is awaiting major earning reports in the coming days, especially in the tech sector, led by Apple, Microsoft, Google and Tesla.

 

Bearing in mind that the Federal Reserve meeting minutes showed that discussions about a plan to reduce asset purchases by $15 billion per month starting mid-November.

 

The dollar index held against a basket of major currencies by at 93.9 points as of 17:41 GMT, after hitting a high of 94.1 points and a low of 93.8 points.

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