The USD index slightly decreased on Wednesday, mainly due to weak US manufacturing PMI and new home sales. Specifically, the US S&P Manufacturing PMI for July was 49.5, much weaker than the market's unchanged expectation of 51.6. This is the first time the US Manufacturing PMI has fallen to 50 since December 2023 – the threshold considered expansionary or contractionary, indicating weakness in the US manufacturing sector. In contrast, the US S&P Services PMI for July was 56 points, surpassing the market's expectation of a decline to 54.9.

US new home sales in June fell to 617,000, lower than the expected increase to 640,000. Home sales are being affected by high mortgage rates and home prices.

The Bank of Canada (BOC) on Wednesday cut its target interest rate by 25 basis points to 4.5%, significantly lower than the Fed's target range of 5.25% - 5.5%.

September Silver futures prices reversed their decline. The settlement price on July 24 was $29.316 per troy ounce, down 0.05% from the previous session.

October Platinum futures prices ended their consecutive decline. The settlement price on July 24 was $969.6 per troy ounce, up 1.44% from the previous session.

September Copper futures prices have not yet halted their decline. The settlement price on July 24 was $4.11 per pound, down 1.24% from the previous session.

Source: Collected from various sources