- The ISM Headline Manufacturing PMI rose to 58.6 in February, slightly higher than expected.
- The strong data appears to have added to the US dollar tailwinds, with DXY recently hitting session highs around 97.20.
According to the latest US ISM manufacturing survey. For February, the headline index rose to 58.6, above economists’ median forecast of 58.0. That marked an increase from January’s reading of 57.6.
As for the sub-indices, the prices paid index fell to 75.6 from 76.1 last month, although it was still slightly above the 74.6 expected. New orders rose to 61.7 from 57.9, their highest level since September, while employment fell to 52.9 from 54.5.
market reaction
The latest PMI survey data for February, much stronger than expected, seems to have added to the tailwinds that the US dollar was already experiencing. DXY recently jumped to session highs in the 97.20 area, having seen a substantial rebound from previous session lows of 96.65 amid safe haven demand on Russia/Ukraine concerns.
Source: Fx Street
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