Dollar slides to two-week low after soft U.S. manufacturing data

Dollar slides to two-week low after soft U.S. manufacturing data

December 2, 2019

A report on Monday showed U.S. construction spending in October dropped as well, falling 0.8% as investment in private projects tumbled to the lowest level in three years.

“What this means for the dollar is that we could potentially see another rate cut from the Federal Reserve next year,” said Karl Schamotta, Chief Market Strategist at Cambridge Global Payments in Toronto.

Read the full Reuters article here.

For further information, please contact Cambridge Global Payments

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