Data from the US released today, showed that the ISM manufacturing index rose to 59.3 in November. According to analysts at Well Fargo, the index gained amid stronger growth in new orders, backlogs and employment. They point out that prices rose at a significantly slower rate as oil prices tumbled, but the supply chain remains tight.
Key Quotes:
“Manufacturing activity remained robust in November according to the latest ISM report. After hitting a six-month low in October, the ISM manufacturing index rebounded 1.6 points. At 59.3, the index continues be near some of the highest levels of the current expansion.”
“With generally strong orders levels and rising backlogs, manufacturers continue to add workers. The employment index rose to 58.4 last month. We expect the manufacturing sector will see another meaningful gain in the nonfarm payrolls report on Friday.”
“One area to see a sharp pullback in November was prices. The price paid component fell 10.9 points to 0 60.7 as oil prices tumbled about 30% over the course of the month. Nevertheless, comments from the survey continued to indicate that some producers are grappling with higher costs related to tariffs.”
“Uncertainty surrounding capital spending plans and global growth is likely to linger in the coming months, while the dollar’s strength remains an impediment to exports. Perhaps most importantly, slowing domestic demand will likely weigh on production growth, making it difficult for the ISM index to maintain readings close to 60 over the coming year.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD retreats to 1.0400 as mood sours
EUR/USD loses its traction and retreats to the 1.0400 area in the second half of the day on Monday. The negative shift seen in risk mood, as reflected by Wall Street's bearish opening, supports the US Dollar and makes it difficult for the pair to hold its ground.
GBP/USD drops below 1.2600 on renewed USD strength
GBP/USD turns south and drops toward 1.2550 after reaching a 10-day-high above 1.2600 earlier in the day. In the absence of high-tier macroeconomic data releases, the US Dollar benefits from the souring risk mood and weighs on the pair.
Gold holds steady above $2,600 following previous week's choppy action
Gold fluctuates in a tight range above $2,600 in the American session on Monday. The benchmark 10-year US Treasury bond yield is down more than 1% on the day, helping XAU/USD find support despite the renewed US Dollar (USD) strength.
Three Fundamentals: Year-end flows, Jobless Claims and ISM Manufacturing PMI stand out Premium
Money managers may adjust their portfolios ahead of the year-end. Weekly US Jobless Claims serve as the first meaningful release in 2025. The ISM Manufacturing PMI provides an initial indication ahead of Nonfarm Payrolls.
Bitcoin misses Santa rally even as on-chain metrics show signs of price recovery
Bitcoin (BTC) price hovers around $97,000 on Friday, erasing most of the gains from earlier this week, as the largest cryptocurrency missed the so-called Santa Claus rally, the increase in prices prior to and immediately following Christmas Day.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.