- ISM manufacturing activity accelerates to 56.1 in May from 55.4.
- Employment index contracts to 49.6.
- Construction spending rises 0.2% vs. 0.5% expected.
The ISM Manufacturing PMI rose from 55.4 to 56.1 in May, beating the market consensus for a slowdown to 54.5.
The New Orders Index went from 53.5 to 55.1, that of Employment from 50.9 to 49.6, against the expectation of a rise to 53.6 and the index of Prices Paid it fell more than expected from 84.6 to 82.2 (consensus: 83).
The final reading of the S&P Global Manufacturing PMI was previously known, which fell to 57.0 from 59.2 and was lower than the 57.5 of the preliminary estimate.
In another report, it was learned that the construction spending in April advanced 0.2%, below the 0.5% market consensus increase. In March it had risen 0.3% (revised from 0.3%).
In the afternoon of the American session, the Federal Reserve will publish the beige book about the state of the economy. On Thursday it will be the turn of the ADP private employment report and on Friday the non-farm payrolls.
The dollar extended the rises in the market after the data, marking maximums against the main European currencies and erasing losses against those linked to commodities. DXY hit a one-week high above 102.20.
Source: Fx Street
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