U.S. dollar goes down as euro rises on higher composite PMI

April 23, 2023 (MLN): The U.S. dollar fell in late trading on Sunday as the euro advanced on the improvement of the composite purchasing managers' index (PMI) in the eurozone, as APP reported.

The dollar index, which measures the greenback against six major peers, was down 0.03%t at 101.8203 in late trading.

In late New York trading, the euro rose to 1.0976 dollars from 1.0963 dollars in the previous session, and the British pound was down to 1.2430 dollars from 1.2440 U.S. dollars in the previous session.

The U.S. dollar bought 134.2030 Japanese yen, lower than the 134.34 Japanese yen of the previous session. The U.S. dollar decreased to 0.8931 Swiss francs from 0.8934 Swiss francs, and it increased to 1.3548 Canadian dollars from 1.3472 Canadian dollars. The U.S. dollar was down to 10.3126 Swedish Krona from 10.3189 Swedish Krona.

The eurozone flash composite PMI was 54.4 in April, up from 53.7 in March, according to data issued by S&P Global on Friday. Economists expected a reading of 54.0.

The U.K. flash composite PMI read 53.9 in April, up from 52.2 in March and higher than the market expectation of 52.4, according to data issued by S&P Global.    Retail sales in the United Kingdom dropped by 0.9% in April month on month in comparison with market expectation of negative 0.5%, according to data issued by the U.K. Office for National Statistics.

The growth of retail sales in March was revised down from 1.2% to 1.1%.   

The S&P Global reported Friday that the U.S. flash composite PMI rose to 53.5 in April, up from 52.3 in March. It came higher than the market expectation of 52.8. 

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