3.09 - USD is on the highest point in 2.5 years
- by Anna K.
Market condition in which we are finding ourselves today are very unusual and very harsh on everyone. Finding ground to stand on is very difficult and for some assets is proving to be impossible because of very unstable position in the country or just very instable economy. But for some reason none of this touches the greenback. Despite the trade war and everything that comes with it, we can see that the greenback is still calling for trust from traders and investors which is helping it to grow maybe even more than it is supposed to. Oh, that safe haven status, am I right?
Today the greenback is growing as we are waiting for the ISM Manufacturing PMI which is a leading indicator of economic health – this is an indicator that shows us the economy through the eyes of the businesses working in the country, carrier of the currency. So, in short we are waiting for the national outlook on the economy. Will this scare away traders and investor in the USD if the report shows bad numbers? Well, for starters experts are really doubtful that the report is going to show bad numbers, secondly bad numbers are possible but them having a lot of influence on the greenback is not definite.
After all, until now the growth of the greenback was not due to the perfect performance of American economy. It was due to the safe haven status of the greenback. And that is exactly what is saving and pushing the greenback to the highest point since January 2017.