USD Retreats as US Manufacturing Leans on the Negative Side - Forex News by FX Leaders

USD Retreats as US Manufacturing Leans on the Negative Side

Posted Thursday, August 1, 2019 by
Skerdian Meta • 1 min read

The manufacturing sector has been suffering across the globe as a result of the trade war. After the round of PMI manufacturing reports we saw earlier on today, traders got another confirmation that this sector is suffering as it is in contraction all countries.

In the US, this sector has been performing a bit better. the slowdown started later and it is still in expansion. Although, it is getting weaker. Have a look for yourself in the table below which shows the details as well:

 

Economic DataActualExpectedPrevious
US Final Manufacturing PMI50.450.050.0
US ISM Manufacturing PMI51.252.051.7
ISM Manufacturing Prices Paid45.149.147.9
ISM Manufacturing Employment51.754.7
ISM Manufacturing New Orders50.850

 

As you can see, most figures are negative, particularly the ISM manufacturing which is the most important. Prices paid and employment are also lower, but a good sign is the increase in the new orders, which mean that the activity might pick up in the coming months as incoming orders increase. But, the slowdown is evident and the USD has lost some ground in the last hour or so. USD/JPY is now more than 100 pips lower from the highs it made last night.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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