The ISM Manufacturing for June jumped to 52.6, above expectations. According to analysts at Wells Fargo, the report is clearly positive news for the factory sector, but the jump may just reflect the relief about reopening rather than a signal full rebound for a sector that still faces major headwinds. Key Quotes: “The ISM report crushed expectations, but you should still temper yours when it comes to the manufacturing outlook. Orders surged from a low base and while factories aren’t firing people, they’re not yet hiring either.” “In a stunning turn for the positive, new orders climbed to 56.4 from 31.8 the prior month. Order backlogs rebounded as well and although the 45.3 reading here is still in contraction, it too had a big jump from 38.2 the prior month. “Factories are not laying off workers to the extent that they were in May, but a below-50 read for employment, while an improvement, still suggests major rehiring is not happening yet.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/GBP extends losses and approaches 0.9000 psychological level FX Street 2 years The ISM Manufacturing for June jumped to 52.6, above expectations. According to analysts at Wells Fargo, the report is clearly positive news for the factory sector, but the jump may just reflect the relief about reopening rather than a signal full rebound for a sector that still faces major headwinds. Key Quotes: “The ISM report crushed expectations, but you should still temper yours when it comes to the manufacturing outlook. Orders surged from a low base and while factories aren’t firing people, they’re not yet hiring either.” “In a stunning turn for the positive, new orders climbed to 56.4 from… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.