{"id":44715,"date":"2023-04-24T17:42:00","date_gmt":"2023-04-24T16:42:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=44715"},"modified":"2023-04-25T16:08:35","modified_gmt":"2023-04-25T15:08:35","slug":"market-wrap-dollar-doldrums","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-wrap-dollar-doldrums\/","title":{"rendered":"Market Wrap &#8211; Dollar Doldrums"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"44715\" class=\"elementor elementor-44715\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-16bc7e6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"16bc7e6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fd464fd\" data-id=\"fd464fd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ecbb980 elementor-widget elementor-widget-text-editor\" data-id=\"ecbb980\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The <a href=\"https:\/\/bit.ly\/400zg4T\" target=\"_blank\" rel=\"noopener\">US dollar<\/a> continued to lose ground during the US trading session as the <a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\">EURUSD<\/a> pair firmed above the 1.1000 level and the <a href=\"http:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\" rel=\"noopener\">GBPUSD<\/a> pair continued to build strength.\u00a0\u00a0\u00a0<\/p><p>Weakness in the US dollar currency added to risk taking, although the <a href=\"https:\/\/bit.ly\/3FlRCFE\" target=\"_blank\" rel=\"noopener\">Nasdaq<\/a> was weighed down by <a href=\"http:\/\/bit.ly\/2OccOTY\" target=\"_blank\" rel=\"noopener\">Tesla<\/a> as the electric automobile makers share price sank to its lowest of the year so far.<\/p><p>Naturally, the move lower in Tesla\u2019s share price dragged down the Nasdaq100, as it feels close to 1%. The <a href=\"https:\/\/bit.ly\/401rzeB\" target=\"_blank\" rel=\"noopener\">S&amp;P500<\/a> also started to move lower as tech-related stocks sank.<\/p><p>The US Commerce Dept also issued benchmark revisions to retail sales and that&#8217;s led to a positive change to the March data, with Retail sales -0.6% vs -1.0% initially.<\/p><p>Ex autos were adjusted to -0.4% vs -0.8% initially, and Ex autos and <a href=\"https:\/\/bit.ly\/3zVOU6B\" target=\"_blank\" rel=\"noopener\">gas<\/a> from0.3% vs -0.3% initially. And Ex autos, <a href=\"https:\/\/bit.ly\/400BEbj\" target=\"_blank\" rel=\"noopener\">gasoline<\/a>, building materials and food service -0.3% vs -0.3% initially.<\/p><p>Elsewhere, the Dallas Fed manufacturing PMI came in at -23.4 vs -15.7 prior. This is the lowest reading since July, but the underlying numbers aren&#8217;t as bad as the headline as there are bright spots.<\/p><p>The first quarter came in about as expected, although all markets weakened with the exception of automotive. There are signs that inventories are building quickly in auto, so expect that market to weaken soon.<\/p><p>The initiators of the survey said \u201c<em>Almost all of our customers have high inventories from overbuying last year. So, they are all cutting back on ordering new inventory.<\/em>\u201d<\/p><p>They added that \u201c<em>We hear from many others in our industry, and they are all saying the same thing: that it&#8217;s gotten slower without any signs of turning around in the near term.<\/em>\u201d<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The US dollar continued to lose ground during the US trading session as the EURUSD pair firmed above the 1.1000 level and the GBPUSD pair continued to build strength.&nbsp;&nbsp;&nbsp; Weakness in the US dollar currency added to risk taking, although the Nasdaq was weighed down by Tesla as the electric automobile makers share price sank [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":44143,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[9],"tags":[18,20,27,164,67],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Wrap - Dollar Doldrums - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/market-wrap-dollar-doldrums\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Wrap - Dollar Doldrums Market Wrap - Dollar Doldrums\" \/>\n<meta property=\"og:description\" content=\"The US dollar continued to lose ground during the US trading session as the EURUSD pair firmed above the 1.1000 level and the GBPUSD pair continued to build strength.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-wrap-dollar-doldrums\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-24T16:42:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-25T15:08:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/04\/gettyimages-121266146.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"349\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Market Wrap - Dollar Doldrums Market Wrap - Dollar Doldrums\" \/>\n<meta name=\"twitter:description\" content=\"The US dollar continued to lose ground during the US trading session as the EURUSD pair firmed above the 1.1000 level and the GBPUSD pair continued to build strength.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-dollar-doldrums\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-dollar-doldrums\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Market Wrap &#8211; 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