US ISM Manufacturing PMI held steady at 52.7 in April

The US ISM Manufacturing PMI appears stuck in April.
The US Dollar remains on the back foot on Thursday.

Pablo Piovano FXStreet

The Institute for Supply Management’s (ISM) data showed the Manufacturing PMI held steady at 52.7 in April, slightly below analysts’ expectations of 53.0.

Meanwhile, the Prices Paid Index, which tracks inflation, rose to 84.6 from 78.3, the Employment Index weakened to 46.4 from 48.7, and the New Orders Index increased to 54.1, from 53.5.

Market reaction

The Greenback extends its downbeat performance on Wednesday, motivating the US Dollar Index (DXY) to breach below the 98.00 mark and hit new two-week lows.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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