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.
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.