The U.S. reported on Thursday its first rise in employment claims since March, largely as a result of a number of populous states having to roll back reopenings because of the pandemic. “High frequency data already pointed to a stalling of the US recovery in recent weeks,” said analysts at Danske Bank, in a research note. “July's U.S. PMIs confirmed this picture with the services PMI showing further improvement but remaining in contraction territory in contrast to its European counterpart.”
At the same time, there is a perception that U.S. lawmakers are struggling to reach consensus on the next round of stimulus measures to boost American consumers and businesses. "Ironically, the dollar's weakness has been exacerbated by concerns that the United States is not doing as much as the Europeans have on stimulus."