US PMIs: S&P Manufacturing PMI falls to 48 in August, Composite PMI edges lower to 54.1

US S&P Global Composite PMI edged lower to 54.1 in August 's flash estimate from 54.3 in July , showing that the business activity in the US ' private sector continued to expand at a healthy pace.

Manufacturing PMI slumped to 48 in the same period from 49.6 , highlighting an ongoing contraction, while the Services PMI rose to 55.2 .

S&P Global Manufacturing, Services and Composite PMIs report will be released at 13:45 GMT .

The US Dollar's persistent weakness results from a combination of risk appetite and belief that the Fed will trim interest rates in September .

Upbeat PMI figures could temporarily support the US Dollar , but once the dust settles, market players will resume revolving around the upcoming Fed ’s monetary policy decision.

Quantitative tightening ( QT ) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases.

QE usually leads to a weaker US Dollar .

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