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US ISM Manufacturing PMI slips to 54.6 in August, under estimates

The employment index fell to 51.2 and new orders slid to 53.7, while the US Dollar Index traded around 99.50 to 99.60 after the release.

Reported · Written up by our desk · Major Pairs

The Institute for Supply Management reported that the US manufacturing sector lost momentum in August, with the ISM Manufacturing PMI falling to 54.6 from 55.6 in July. That reading also came in below expectations for 55.2, according to FXStreet's recap of the release.

The employment index dropped to 51.2 from 52.8, indicating payrolls continued to expand but at a weaker pace. The Prices Paid index held steady at 71.1, while the New Orders index retreated to 53.7 from 56.7 in the prior month.

FXStreet also noted that the US Dollar trimmed some earlier gains after the data, with the US Dollar Index, or DXY, trading in a modest range of 99.50 to 99.60 following the release. Attention then shifted to the upcoming August ISM Manufacturing PMI data point, with markets expecting the headline to ease to 55.2 from 55.6.

Latest closeDollar index 99.65 ▲0.2%

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