- US Markit Manufacturing PMI falls further in April's final reading.
- US Dollar Index largely ignores the data and stays near 99.
The IHS Markit's Manufacturing PMI fell to 36.1 in April's final reading from 48.5 in March to reveal a decline in the business activity at an accelerated pace. This figure was worse than the previous estimate and the market expectation of 36.9.
Commenting on the data, "April saw the manufacturing sector struck hard by the COVID-19 pandemic, with output falling to an extent surpassing that seen even at the height of the global financial crisis," Chris Williamson, Chief Business Economist at IHS Markit said. "With orders collapsing at a rate not seen for over a decade, supply chains disrupted to a record degree and pessimism about the outlook hitting a new survey high, rising numbers of firms are culling payroll numbers."
The US Dollar Index ignored this reading and continues to move sideways near the 99 mark.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.