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  • Economic activity in the United States’ manufacturing sector expanded in September.
  • The US Dollar Index continues to push higher following the data.

The data published by the IHS Markit on Tuesday revealed that the business activity in the manufacturing sector continued to expand at a soft pace with the Purchasing Managers’ Index (PMI) coming in at 51.1 in the final reading. The previous estimate and the market expectation were both 51 for September.

The Greenback continued to gather strength on the back of this reading and the US Dollar Index is now at its highest level in more than two years at 99.65, adding 0.25% on a daily basis.

“September PMI data indicated a marginally faster rate of improvement in the health of US manufacturing, though the overall picture remained one of a stuggling goods producing sector that has suffered its worst quarter since 2009,” the IHS Markit noted in its publication.