US: Markit Manufacturing PMI rises to 60.5 (final) in March from 59.1

Markit Manufacturing PMI rose above 60 in April.
US Dollar Index stays deep in the negative territory around 91.00.

Eren Sengezer FXStreet

The IHS Markit's Manufacturing PMI for the US rose to 60.5 (final) in April from 59.1 in March. This reading came in slightly worse than the flash estimate of 60.6 and showed an ongoing expansion in the manufacturing sector's business activity at a strong pace.

Commenting on the data, "US manufacturers reported the biggest boom in at least 14 years during April," noted Chris Williamson, Chief Business Economist at IHS Markit noted. "Demand surged at a pace not seen for 11 years amid growing recovery hopes and fresh stimulus measures."

Market reaction

The greenback continues to have a difficult time finding demand after this report. As of writing, the US Dollar Index was down 0.28% on a daily basis at 91.05.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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