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FXStreet (Guatemala) - Analysts at Rabobank suggested that the dollar bears recently got another shot in the arm from a weak US manufacturing reports this week.
Key Quotes:
"While part of the 0.6% monthly decline in US industrial production in March can be attributed to the contraction in the utilities sector after the extremely cold first two months of the year, output in other sectors disappointed as well. This suggests that other factors are slowing down the US economy, most notably the strong dollar."
"This was underlined by the 8-point drop in the Empire manufacturing index for April to -1.2. The decline reflected both falling new orders and weaker employment growth, yet the survey’s respondents were more upbeat about future business activity."
