"Adjusted for seasonal influences, the IHS Markit Flash U.S. Manufacturing Purchasing Managers’ Index dipped to 53.7 in February from 54.9 in January, to signal the slowest improvement in business conditions since September 2017," the IHS Markit reported on Thursday.
Key takeaways from the press release
- Despite a slowdown in production and new order growth, latest data signalled another solid upturn in manufacturing employment.
- Tim Moore, Associate Director at IHS Markit: The main worrying development was the loss of momentum reported by manufacturing companies in February.
- Nonetheless, relatively strong domestic business conditions mean that US manufacturers remain on a much more positive trajectory than the recent downbeat production trends signalled by IHS Markit’s Manufacturing PMI surveys across Europe and Asia.
- At 56.2, up from 54.2 in January, the seasonally adjusted IHS Markit Flash U.S. Services PMI™ Business Activity Index indicated the sharpest upturn in activity since June 2018.
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Follow us on Telegram
Stay updated of all the news
EUR/USD retreats toward 1.0800 after US data
EUR/USD has lost its traction and declined toward 1.0800 with the initial reaction to the upbeat consumer confidence data from the US. Meanwhile, Wall Street's negative opening seems to be helping the US Dollar find its footing and making it hard for the pair to stretch higher.
GBP/USD clings to modest daily gains above 1.2300
GBP/USD has found its footing following a drop below 1.2300 earlier in the day and advanced to the 1.2330 area. BOE Governor Bailey's comments on the financial crisis failed to trigger a noticeable market reaction. Investors await CB Consumer Confidence data from the US.
Gold gains traction, recovers toward $1,960
After having support near $1,950, Gold price gained traction and turned positive on the day near $1,960 amid the selling pressure surrounding the US Dollar. With the 10-year US T-bond yield holding above 3.5%, however, XAU/USD's upside remains limited.
Ethereum (ETH) options traders turn bearish ahead of the token unlock
Ethereum is holding steady above the $1,700 level despite slight bearish sentiment among options traders. Analysts have noted a rise in open interest in Ethereum, as co-founder Lubin assures that the altcoin is not a security.
S&P 500: With banking crisis in rear view, market pushes index closer to 4,000
The S&P 500 on Monday moved ahead cautiously without much fanfare after the US government agreed to sell $72 billion worth of Silicon Valley Bank assets to First Citizens Bank (FCNCA).