US Manufacturing PMI Flash and the Points of discussion:
- This morning the release of US Manufacturing PMI data beat expectations with a print-at-39.8
- The Flash Manufacturing PMI release follows a month or a steep contraction in the manufacturing sector
- The The US Dollar it is testing after having spent almost two months of range-bound
The PMI manufacturing index, the Flash Beats the Wait
The IHS Markit Flash Manufacturing PMI printed this morning at 39.8 versus the expectation, or 38.0. The last month’s figure was revised to a decline of 36.9 36.1), and came in well below the month of August, print, 48.5. The April manufacturing print was the lowest since 2009, mainly due to the pandemic. As economic indicators like this point to the decline in economic production, The GDP is back in the spotlight.
Recommended by the Austin Sealey
The strengthening of Confidence in the trade
This widely watched indicator for u.s. economic activity and monitors changes in the levels of production from month to month. The index gives equal weight to the new orders, production, employment, supplier deliveries and inventories. The threshold of growth and contraction, and is at level 50. As you can see in the chart below, this morning, the printing may mark a turning point for the U.S. manufacturing sector, now that we are from several consecutive months of decline.
The Table Prepared by Austin and Sealey; Markit PMI Manufacturing Flash
The USD remained largely range-bound since the sale at the end of March. Although the bottom-of-the-range extends down to about 98.25, the currency is looking for support to 99.0 at the time of this publication. Stay up to date on the latest and the most important economic indicators, with the DailyFX-economic calendar as-markets-eye events of the coming week.
In U.S. Dollars, Eight Hours of Price Table
The Table Prepared by Austin and Sealey; DXY on TradingView
— Written By Austin and Sealey, a Contributor for DailyFX.com