US: Markit Manufacturing PMI reaches new series-high of 63.4 (final) in July
|- Markit Manufacturing PMI renewed series high in July.
- US Dollar Index continues to move sideways near 92.00.
The IHS Markit's Manufacturing PMI reached a new series high of 63.4 in July, up from the flash estimate of 63.1.
Commenting on the report, "July saw manufacturers and their suppliers once again struggle to meet booming demand, leading to a further record jump in both raw material and finished goods prices," said Chris Williamson, Chief Business Economist at IHS Markit.
"Suppliers hiking prices for inputs into factories at the steepest rate yet recorded and manufacturers able to raise their selling prices to an unprecedented extent, as both suppliers and producers often encounter little price resistance from customers," Williamson added.
Market reaction
This report doesn't seem to be having a meaningful impact on the USD's performance against its rivals. As of writing, the US Dollar Index was down 0.08% on the day at 92.02.
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