Dollar extends gains after PMI data and home sales report

US S&P Global Manufacturing PMI Aug P: 48.0 (est 49.5; prev 49.6)

- S&P Global Services PMI Aug P: 55.2 (est 54.0; prev 55.0)

- S&P Global Composite PMI Aug P: 54.1 (est 53.2; prev 54.3)

US Existing Home Sales Jul: 3.95M (est 3.94M prevR 3.90M)

- Existing Home Sales (M/M) Jul: 1.3% (est 1.3%; prevR -5.1%)

- Median Home Price For Existing Homes (USD): 422.6K or +4.2% (prev 426.9K Or +4.1% From July 2023)

According to S&P Global data, employment fell in August, dropping for the first time in 3 months, while the net job losses have now been reported in 3/5 of the past five months, marking the softest spell of payroll growth since the first half of 2020. 

After a temporary recovery in manufacturing, we are back to contraction.