What is happening to the dollar

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So far the news for the dollar has been rather muted with a tinge of weakness. Yesterday we had the ISM Manufacturing recording a 52.9 down from 53.5. This is the fourth consecutive down which indicates that the manufacturing expansion is slowing. Personal spending too has contracted  by 0.2% which suggest consumers are still tight on the wallet even though we have witness improvements in the labour market. After all this and yet the USD manages to stay afloat means the market believes in the USD. With the Non Farm numbers coming out this Friday, I do not expect the USD to move much till then.


Daily price movements have been small and range bound. Price is not able to close above 95.48 which is the current 2015 high. Even it closes above 95.48, it has to deal with the 96.00 resistance. Trading would be limited to smaller time frames with small targets for the moment.