USD Overview (24 June 2020)

Yesterday, USD weakened against most major currencies except CAD.

The flash PMI data released yesterday indicated that the economic downturn has eased in June with the manufacturing industry coming close to the end of contraction.

• Flash Manufacturing PMI (Actual: 49.6, Forecast: 50.0, Previous: 39.8)
  
• Flash Services PMI (Actual: 46.7, Forecast: 46.9, Previous: 37.5 revised from 36.9)
  

The New Home Sales data (Actual: 676K, Forecast: 637K, Previous: 580K revised from 623K) released yesterday indicated a surge in new homes sales in May as buyers tapped on the record-low mortgage rates as a result of the recent massive interest rates cuts.