ISM Manufacturing PMI beats with 60.8 – USD looks good


The US manufacturing sector seems to be on fire, at least according to the forward-looking ISM Manufacturing PMI. the indicator reached 60.8 points, better than 58 expected. In addition, also inflation is on the rise: 71.5 points in the Prices component. The employment component, which is eyed for the NFP, tops 60 as well with 60.3. New orders stand at 64.6 points.

The US dollar extends its gains.

A separate report showed that construction spending is up by 0.5% against 0.4% expected, albeit with a downward revision.

The ISM Manufacturing PMI was expected to stand at 58 points in September, down from 58.8 in August. Any score above 50 reflects expansion and scores close to 60 represent rapid growth.

The US dollar has been on the rise against many currencies. The violence in Catalonia and the deadly shooting in Las Vegas dampen the mood.

This is the first hint towards Friday’s Non-Farm Payrolls report on Friday.

More: What’s in store for the USD in Q4? Three opinions

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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