- The ISM Manufacturing PMI report showed a continued contraction in business activity in November.
- The DXY Dollar Index remains in positive territory above 106.50.
Business activity in the US manufacturing sector continued to contract, although at a softer pace in November, with the ISM Manufacturing PMI rising to 48.4 from 46.5 in October. This reading was better than the market expectation of 47.5.
The PMI survey Employment Index rose to 48.1 from 44.4 in the same period and the Prices Paid Index fell to 50.3 from 54.8. Finally, the New Orders Index improved to 50.4 from 47.1.
Market reaction
The DXY Dollar Index maintains its bullish momentum following the PMI report and was last seen rising 0.83% on the day above 106.50.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
