US Markit Manufacturing PMI improved less than expected in July. US Dollar Index clings to daily gains near 94.00 after the data. The IHS Markit’s Manufacturing PMI rose from 49.8 in June to 50.9 (final) in July and revealed a modest expansion in the manufacturing sector’s economic activity. However, this reading came in worse than the previous estimate of 51.3 and missed the market expectation of 52. Commenting on the data, “although indicating the strongest expansion of the manufacturing sector since January, the IHS Markit PMI remains worryingly weak,” said Chris Williamson, Chief Business Economist at the IHS Markit. “much of the recent improvement in output appears to be driven merely by factories restarting work rather than reflecting an upswing in demand.” Market reaction The US Dollar Index largely ignored this report and was last seen gaining 0.52% on the day at 93.94. 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 US Dollar Index looks firmer near 94.00 ahead of ISM FX Street 3 years US Markit Manufacturing PMI improved less than expected in July. US Dollar Index clings to daily gains near 94.00 after the data. The IHS Markit's Manufacturing PMI rose from 49.8 in June to 50.9 (final) in July and revealed a modest expansion in the manufacturing sector's economic activity. However, this reading came in worse than the previous estimate of 51.3 and missed the market expectation of 52. Commenting on the data, “although indicating the strongest expansion of the manufacturing sector since January, the IHS Markit PMI remains worryingly weak," said Chris Williamson, Chief Business Economist at the IHS Markit. "much of the recent improvement in… 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.
