“The fall in the ISM manufacturing index is disappointing, but seems driven by customers running down inventories. Given sound economic fundamentals there is scope for a rebound in 2Q19,” argues James Knightley, ING’s Chief International Economist. Key quotes “The report shows that customer inventory levels plummeted to an eight-year low. This would explain the soft new orders figures and weaker production growth. Given the robust jobs market and strong consumer demand coupled with rebounding equities and encouraging news on a potential US-China trade deal, we think the US economy remains in decent shape. “As such we would expect customer inventories to be gradually rebuilt in the months ahead, which could be the catalyst for stronger manufacturing activity in 2Q19. This, in turn, could pave the way for a Federal Reserve rate hike in Q3 as suggested by former NY Fed President William Dudley in comments today.” 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 Atlanta Fed: US GDPNow estimate for Q1-2019 at 0.3% FX Street 4 years "The fall in the ISM manufacturing index is disappointing, but seems driven by customers running down inventories. Given sound economic fundamentals there is scope for a rebound in 2Q19," argues James Knightley, ING's Chief International Economist. Key quotes "The report shows that customer inventory levels plummeted to an eight-year low. This would explain the soft new orders figures and weaker production growth. Given the robust jobs market and strong consumer demand coupled with rebounding equities and encouraging news on a potential US-China trade deal, we think the US economy remains in decent shape. "As such we would expect customer… 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.
