- ISM Manufacturing registers important drop in June to 53 from 56.1.
- Data provides more signs of a possible recession ahead.
- The dollar remains firm on risk aversion.
The activity index of the ISM survey of the manufacturing sector showed a drop from 56.1 to 53, below the market consensus of 54.9. It is the lowest level since September 2021.
In the details, the index of job which went from 49.6 to 47.3, that of new orders from 55.1 to 49.2 and that of prices paid from 82.2 to 78.5.
Timothy Fiore, head of the ISM survey, said that the manufacturing sector continues to be buoyed by weaker demand in June, while it is weakened by supply constraints.
Previously, the final reading of the S&P Global Manufacturing PMI was published, which stood at 52.7, against the 52.4 expected.
The dollar remained firm in the market after the data. DXY is up 0.80% and trading at 105.55, high since June 15. Wall Street stock indices fell after the data.
Source: Fx Street
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