US Manufacturing and Services PMI rose more than expected in June. US Dollar Index extends its daily slide toward 96.50. The business activity in the US manufacturing sector contracted at a very soft pace in June with the IHS Markit’s advanced Manufacturing PMI recovering to 49.6 from 39.8 in May. This reading came in better than the market expectation of 48. Further details of the publication revealed that the Services PMI rose to 46.7 from 37.5 while the Composite PMI advanced to 46.9 from 37. Commenting on the data, “the flash PMI data showed the US economic downturn abating markedly in June,” said Chris Williamson, Chief Business Economist at IHS Markit. “The second quarter started with an alarming rate of collapse but output and jobs are now falling at far more modest rates in both the manufacturing and service sectors.”, Market reaction The US Dollar Index remains under pressure following the upbeat PMI data. As of writing, the index was down 0.48% on the day at 96.55. 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/USD to trade below the 1.10 level by end-2020 – Rabobank FX Street 2 years US Manufacturing and Services PMI rose more than expected in June. US Dollar Index extends its daily slide toward 96.50. The business activity in the US manufacturing sector contracted at a very soft pace in June with the IHS Markit's advanced Manufacturing PMI recovering to 49.6 from 39.8 in May. This reading came in better than the market expectation of 48. Further details of the publication revealed that the Services PMI rose to 46.7 from 37.5 while the Composite PMI advanced to 46.9 from 37. Commenting on the data, “the flash PMI data showed the US economic downturn abating markedly 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.
