US: ISM Manufacturing remains at 52.8 in August vs. 52 expected

• ISM Manufacturing stands at 52.28 in August versus 52 market consensus.
• Employment index jumps from 49.9 to 54.2.
• The dollar extends the advance throughout the market.

The ISM Manufacturing index posted a better-than-expected reading in August at 52.8, similar to July and higher than the market consensus of 52. The dollar extended the upward path after the data.

The ISM employment index it went from 49.9 to 54.2, and a modest contraction was expected. the of new orders it rose from 48 to 51.3. As far as inflation is concerned, the prices paid dropped from 60 to 52.5.

The data will be welcomed by the officials of the Federal Reserve as they reflect less pressure on prices and a sector that is still expanding.

Another report indicated that the gasto under construction in july had a drop of 0.4%, a steeper decline than the 0.1% expected; although June’s decline was revised from -1.1% to -0.5%.

Minutes before the ISM, the S&P Global PMI final report for August which showed an upward revision from the preliminary reading from 51.3 to 51.5. In July it had been located at 52.2.

Previously, the weekly report of unemployment benefits had been published, which showed a drop in initial claims to an eight-week low of 232,000 against 248,000. On Friday it will be the turn of the official employment report, which includes non-farm payrolls, which are expected to show a rise of 300,000.

The dollar It came with a bullish tone in the market and after the ISM it gained even more momentum, hitting highs on almost all fronts. USD/JPY jumped to decades highs approaching 140.00.