ISM Manufacturing PMI Moved Back Into Contraction Territory In April

US Manufacturing Reports


The Institute for Supply Management commented: “The U.S. manufacturing sector dropped back into contraction after growing in March, the first time since September 2022 that the sector reported expansion. Although demand improvement slowed, output remains positive and inputs stayed accomodative.”

Today, traders also had a chance to take a look at the final reading of S&P Global Manufacturing PMI report. The report showed that S&P Global Manufacturing PMI decreased from 51.9 in March to 50.0 in April, compared to analyst consensus of 49.9.

JOLTs Job Openings declined from 8.76 million in February to 8.49 million in March, compared to analyst consensus of 8.69 million.

U.S. Dollar Index settled near the 106.20 level as traders reacted to the reports. It remains to be seen whether JOLTs Job Openings and ISM Manufacturing PMI reports will have a material impact on U.S. dollar dynamics as the Fed will release its Interest Rate Decision today.

Gold rebounds after yesterday’s sell-off. Currently, gold is trying to settle above $2305 as traders focus on the pullback in Treasury yields.

SP500 pulled back towards the 5020 level as traders remained cautious ahead of the Fed decision.



This article was originally published by a www.fxempire.com

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