Home›Forex›Major Pairs›US ISM manufacturing PMI jumps to 55.6 in July

US ISM manufacturing PMI jumps to 55.6 in July

The USD index ticked up to 99.82 after the data, while the employment index rose to 52.8 from 49.7.

Reported · Written up by our desk · Major Pairs

US manufacturing activity accelerated in July, with the Institute for Supply Management's Manufacturing Purchasing Managers' Index rising to 55.6 from 53.3 in June, according to FXStreet. The headline reading also beat the market expectation of 54.

The report showed labor conditions improving, with the Employment Index climbing to 52.8 from 49.7. The Prices Paid component, a gauge of the survey's inflation expectations, edged lower to 71.1 from 73 but still came in above the forecast of 70.3.

ISM Chair Susan Spence said the PMI remained in expansion territory and that July growth was the fastest in more than four years. She also noted that four of the five PMI subindexes grew faster than the prior month, while the Inventories Index fell by 0.2 percentage points.

In FXStreet's immediate market reaction, the US Dollar Index edged slightly higher after the PMI release and was last seen trading flat on the day at 99.82, with the dollar weaker versus the Japanese yen over the recent period referenced in its charting.

Latest closeDollar index 99.80 ▼0.2%

More like this

Sources