The Institute for Supply Management (ISM) of the United States has published the October Manufacturing PMI. The indicator fell 2.3 points last month, retreating to 46.7 points since September 49.
He PMI is at its lowest level in three months, remaining in contraction territory for the twelfth consecutive month. Furthermore, the figure disappoints market expectations, since it was expected that there would be no variation and would remain at 49 points.
The ISM employment component has fallen to 46.8 in October from 51.2 in September, falling below the consensus estimate of 50.3.
The prices paid indicator has risen from 43.8 to 45.1, better than the expected 44.5, while the new orders index has plummeted from 49.2 to 45.5, its lowest level in five months.
USD reaction
He Dollar Index (DXY) has reacted to the disappointing manufacturing sector data with a 20 pip bounce between the 106.75 and 106.95 zone. Previously, the greenback had hit four-week highs of 107.09. At the time of writing, the DXY is trading above 106.82, gaining 0.09% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
