Investing.com - The U.S. dollar was mixed against its major counterparts on Monday, after U.S. data showing that manufacturing activity contracted for the first time since July 2009 in June added to concerns over the outlook for global growth.
During U.S. morning trade, the dollar was higher against the euro, with EUR/USD shedding 0.60% to hit 1.2585.
The Institute for Supply Management said its manufacturing purchasing managers’ index fell to 49.7 in June, down from 53.5 in May, as new orders declined sharply. Analysts had expected the index to tick down to 52.0.
The euro came under broad selling pressure earlier in the day amid concerns over the effectiveness of a new European agreement to tackle the debt crisis in the euro zone after Finland and the Netherland’s reiterated their opposition to using euro zone bailout funds to purchase government bonds.
On Friday, European leaders agreed to use the euro zone’s bailout funds to support struggling banks directly, without adding to national debt, and to purchase government debt in order to keep borrowing costs down.
Leaders also agreed to set up a joint banking supervisory body for the euro area.
The greenback was also higher against the pound, with GBP/USD inching down 0.09% to hit 1.5690.
The pound found some support earlier after data showed that manufacturing activity in the U.K. improved in June, but conditions remained fragile.
The U.K. manufacturing PMI rose to 48.6 in June from a reading of 45.9 in May, but remained below the 50 level which separates contraction from expansion. Analysts had expected a reading of 46.7.
Elsewhere, the greenback fell to a session low against the yen, with USD/JPY down 0.55% to 79.36, but was higher against the Swiss franc, with USD/CHF climbing 0.56% to hit 0.9541.
The greenback was mixed against its Canadian, Australian and New Zealand counterparts, with USD/CAD up 0.18% to hit 1.0183, AUD/USD inching up 0.06% to hit 1.0243 and NZD/USD up 0.13% to hit 0.8022.
Earlier Monday, data showed that China’s HSBC PMI posted a reading of 48.2 in June, little changed from an initial estimate of 48.1, remaining in contraction territory for the eighth successive month.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.31%, to 81.97.
Also Monday, official data showed that the unemployment rate in the euro zone rose to a record high 11.1% in May, up from 11.0% in April.
A separate report showed that the final reading of the euro zone manufacturing PMI came in at 45.1 in June, above the preliminary estimate of 44.8 and holding steady at its lowest level since June 2009.
During U.S. morning trade, the dollar was higher against the euro, with EUR/USD shedding 0.60% to hit 1.2585.
The Institute for Supply Management said its manufacturing purchasing managers’ index fell to 49.7 in June, down from 53.5 in May, as new orders declined sharply. Analysts had expected the index to tick down to 52.0.
The euro came under broad selling pressure earlier in the day amid concerns over the effectiveness of a new European agreement to tackle the debt crisis in the euro zone after Finland and the Netherland’s reiterated their opposition to using euro zone bailout funds to purchase government bonds.
On Friday, European leaders agreed to use the euro zone’s bailout funds to support struggling banks directly, without adding to national debt, and to purchase government debt in order to keep borrowing costs down.
Leaders also agreed to set up a joint banking supervisory body for the euro area.
The greenback was also higher against the pound, with GBP/USD inching down 0.09% to hit 1.5690.
The pound found some support earlier after data showed that manufacturing activity in the U.K. improved in June, but conditions remained fragile.
The U.K. manufacturing PMI rose to 48.6 in June from a reading of 45.9 in May, but remained below the 50 level which separates contraction from expansion. Analysts had expected a reading of 46.7.
Elsewhere, the greenback fell to a session low against the yen, with USD/JPY down 0.55% to 79.36, but was higher against the Swiss franc, with USD/CHF climbing 0.56% to hit 0.9541.
The greenback was mixed against its Canadian, Australian and New Zealand counterparts, with USD/CAD up 0.18% to hit 1.0183, AUD/USD inching up 0.06% to hit 1.0243 and NZD/USD up 0.13% to hit 0.8022.
Earlier Monday, data showed that China’s HSBC PMI posted a reading of 48.2 in June, little changed from an initial estimate of 48.1, remaining in contraction territory for the eighth successive month.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.31%, to 81.97.
Also Monday, official data showed that the unemployment rate in the euro zone rose to a record high 11.1% in May, up from 11.0% in April.
A separate report showed that the final reading of the euro zone manufacturing PMI came in at 45.1 in June, above the preliminary estimate of 44.8 and holding steady at its lowest level since June 2009.