According to the U.S. Manufacturing PMI report published by the IHS Markit, the business activity in the manufacturing sector in June expanded at a soft pace with the headline PMI ticking up to 50.6 from 50.5 in May and coming in better than the market expectation of 50.1.
With the initial reaction, the US Dollar Index posted small gains and was last up 0.35% on a daily basis at 96.48.
Commenting on the data, “US manufacturers reported business conditions to have remained the toughest for nearly a decade in June. The past two months have seen the lowest readings since the height of the global financial crisis in 2009,” Chris Williamson, Chief Business Economist at IHS Markit said.
Share
