Dollar Turns In Mixed Performance Against Major Counterparts After Weak Data

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(RTTNews) - The U.S. dollar drifted lower on Friday, weighed down by data showing a contraction in U.S. business activity in the month of July, due to a slowdown in the services sector.

Expectations of sharp interest rate hike, and some disappointing earnings updates supported the greenback at lower levels, limiting its downside a bit.

Data from Markit Economics showed that according to flash estimates the S&P Global US Composite PMI registered a score of 47.5 in July, down notably from 52.3 in June to signal a solid contraction in private sector output.

The S&P Global US Manufacturing PMI edged lower to 52.3 in July of 2022 from 52.7 in June, compared to market forecasts of 52, preliminary estimates showed.

The dollar index dropped to 106.11 and despite recovering to 106.60, remains in negative territory with a loss of about 0.3%.

Against the Euro, the dollar firmed to $1.0218 from $1.0230. In the Asian session, the dollar was quite stronger at $1.0132 against the Euro.

The dollar is slightly stronger against Pound Sterling at $1.1998.

Against the Japanese currency, the dollar weakened, fetching 136.07 yen a unit, nearly 1% less than 137.35 yen on Thursday.

The dollar firmed to 0.6925 against the Aussie from $0.6936. The Swiss franc strengthened to 0.9616 from 0.9668.

Against the Loonie, the dollar is up at C$1.2918 as oil prices fell sharply.

Indonesia Stock Market Due For Support On Tuesday

The Indonesia stock market has tracked lower in four straight sessions, slumping almost 370 points or 4.8 percent in that span. The Jakarta Composite Index now sits just beneath the 6,790-point plateau although it's tipped to open in the green on Tuesday. The global forecast for the Asian markets in positive on an improved outlook for interest rates. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

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Win Streak May Continue For Hong Kong Stock Market

The Hong Kong stock market has moved higher in back-to-back sessions, advancing more than 450 points of 1.9 percent along the way. The Hang Seng Index now sits just beneath the 23,690-point plateau and it's expected to see additional support on Tuesday. The global forecast for the Asian markets in positive on an improved outlook for interest rates. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

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Additional Support Anticipated For China Stock Market

The China stock market on Monday snapped the two-day slide in which it had fallen almost 30 points or 0.9 percent. The Shanghai Composite Index now sits just above the 3,380-point plateau and it may add to its winnings on Tuesday.

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Australian Market Significantly Higher

The Australian stock market is trading significantly higher on Tuesday, snapping a five-session losing streak, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,550 level, with gains in mining, financial and technology stocks partially offset by weakness in energy stocks amid tumbling crude oil prices.

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Bargain Hunting May Boost Taiwan Stock Market

The Taiwan stock market has finished lower in two of three trading days since the end of the two-day winning streak in which it had risen more than 300 points or 1.3 percent. The Taiwan Stock Exchange now sits just above the 21,730-point plateau and it's expected to move back to the upside again on Tuesday. The global forecast for the Asian markets in positive on an improved outlook for interest rates. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

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Singapore Bourse May Reclaim 3,900-Point Level

The Singapore stock market has moved lower in four straight sessions, slumping more than50 points or 1.4 percent along the way. The Straits Times Index now sits just beneath the 3,880-point plateau although it's due for support on Tuesday. The global forecast for the Asian markets in positive on an improved outlook for interest rates. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

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Little Movement Seen For Malaysia Stock Market

The Malaysia stock market has alternated between positive and negative finishes through the last seven trading days since the end of the two-day winning streak in which it had gathered almost 10 points or 0.6 percent. The Kuala Lumpur Composite Index now sits just above the 1,515-point plateau and it's expected to remain rangebound again on Tuesday. The global forecast for the Asian markets in positive on an improved outlook for interest rates. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

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Japan Stock Market Poised To End Losing Streak

The Japan stock market has finished lower in three straight sessions, stumbling more than 530 points or 1.4 percent along the way. The Nikkei 225 now rests just above the 38,350-point plateau although it may stop the bleeding on Tuesday. The global forecast for the Asian markets in positive on an improved outlook for interest rates. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead. The Nikkei finished modestly lower on Monday following losses from the financial shares, technology stocks and automobile producers. For the day, the index dipped 49.14 points or 0.13 percent to finish at 38,354.09 after trading between 38,026.32 and 38,368.22. Among the actives, Nissan Motor shed 0.46 percent, while Mazda Motor stumbled 2.01 percent, Toyota Motor fell 0.36 percent, Honda Motor retreated 1.23 percent, Mitsubishi UFJ Financial dropped 0.92 percent, Mizuho Financial lost 0.58 percent, Sumitomo Mitsui Financial eased 0.06 percent, Sony Group tanked 2.13 percent, Panasonic Holdings sank 0.67 percent, Hitachi declined 1.63 percent and Softbank Group was unchanged.

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EURUSD	1.15928	GBPUSD	1.35443	AUDUSD	0.64787
USDJPY	145.69	USDCAD	1.37284	USDCHF	0.81289

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Dollar Turns In Mixed Performance Against Major Counterparts After Weak Data