- Markit Manufacturing PMI rose to 52.2 in November’s advanced reading.
- US Dollar Index rose to fresh weekly highs above 98.10 on upbeat data.
The economic activity in the United States’ (US) manufacturing sector is expected to expand at a more robust pace than expected in November, the advanced Purchasing Managers’ Index (PMI) data published by the IHS Markit showed on Friday.
“Goods producers signalled a stronger improvement in operating conditions in November, as signalled by a rise in the IHS Markit Flash Manufacturing Purchasing Managers’ Index to 52.2, up from 51.3 in October,” the publication read. This figure also came in better than the market expectation of 51.5.
With the initial reaction, the USD gathered strength against its rivals and the US Dollar Index rose to a fresh weekly high of 98.12.
Further details of the report revealed that the Services PMI improved to 51.6 from 50.6 and the Composite PMI came in at 51.9 as expected.
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