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Finally some partially positive news from the US manufacturing sector: a score of 49.5 points in the ISM Manufacturing PMI. This is still in negative territory (under 50) but better than expected and with a better employment component.  

The US dollar is rising but certainly doesn’t get too far.

The US ISM  manufacturing purchasing managers’ index was expected to  move up from 48.2 to 48.5 points in February. This is  the first hint for Friday’s Non-Farm Payrolls. A negative surprise was not ruled out given weak regional data from the US and disappointing  manufacturing figures from both the UK and China.

The US dollar has been doing  OK towards the release,  especially against the euro which is under pressure.


  • ISM Manufacturing PMI: previous 48.2, expected. 48.5, actual: 49.5
  • ISM  Manufacturing Prices: previous 33.5, expected 34.5, actual: 38.5
  • Employment component:  previous  45.9, actual 48.5
  • New orders: unchanged at 51.5
  • Construction Spending: previous: 0.1%, expected: +0.4%, actual: 1.5%
  • Markit’s final ISM Manufacturing PMI came out at 51.3 against 51 points initially reported.
  • IBD/TIPP Economic Optimism: previous 47.8, actual: 46.8.


  • EUR/USD was around 1.0860 towards the release, still suffering from the poor inflation data yesterday. It reaches a new low of 1.0838 in the aftermath.
  • GBP/USD traded around 1.3925, still hit by weak manufacturing PMI in the UK. The pound slides but bounces back up.
  • USD/JPY was stable just above 113 and continues higher to 113.37.
  • USD/CAD was trading below 1.35, after an attempt to break below strong support at 1.3460, following the beat in Canadian GDP. The Canadian dollar seems unexcited.
  • AUD/USD traded around 0.7140 on the background of weak Chinese data and no change from the RBA. AUD/USD is actually higher at 0.7150.
  • NZD/USD was holding on to 0.66 after  finally seeing a positive milk auction and stands put.

More:  EUR/USD: Monthly Shooting Star; USD/JPY: 50% Equilibrium – SocGen

EURUSD down on ISM Manufacturing PMI March 1 2016