- Markit Manufacturing PMI rose above 60 in April.
- US Dollar Index stays deep in the negative territory around 91.00.
The IHS Markit's Manufacturing PMI for the US rose to 60.5 (final) in April from 59.1 in March. This reading came in slightly worse than the flash estimate of 60.6 and showed an ongoing expansion in the manufacturing sector's business activity at a strong pace.
Commenting on the data, "US manufacturers reported the biggest boom in at least 14 years during April," noted Chris Williamson, Chief Business Economist at IHS Markit noted. "Demand surged at a pace not seen for 11 years amid growing recovery hopes and fresh stimulus measures."
Market reaction
The greenback continues to have a difficult time finding demand after this report. As of writing, the US Dollar Index was down 0.28% on a daily basis at 91.05.
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
GBP/USD tumbles to 14-month lows near 1.2250
GBP/USD accelerates its decline and hits the lowest level in over a year near 1.2250 in European trading on Thursday. The pair feels the heat from the UK bond market sell-off, with the 10-year Gilt yields at the highest since August 2008. Extended US Dollar strength and a bearish daily technical setup exaerbates the pain.
EUR/USD holds losses near 1.0300 ahead of Eurozone Retail Sales data
EUR/USD trades with mild losses for the third consecutive day at around 1.0300 in the European session on Thursday. Encouraging German Industrial Production data for November fail to lift the Euro amid a sustained US Dollar demand. Eurozone Retail Sales and Fedspeak are next in focus.
Gold price moves back closer to multi-week top; modest USD strength might cap gains
Gold price turns positive for the third straight day and draws support from a combination of factors. Geopolitical risks, trade war fears and retreating US bond yields lend support to the XAU/USD pair.
BNB poised for a decline on negative Funding Rate
BNB price hovers around $696.40 on Thursday after declining 4.58% in the previous two days. BNB’s momentum indicators hint for a further decline as its Relative Strength Index and Moving Average Convergence Divergence show bearish signals.
Bitcoin edges below $96,000, wiping over leveraged traders
Bitcoin's price continues to edge lower, trading below the $96,000 level on Wednesday after declining more than 5% the previous day. The recent price decline has triggered a wave of liquidations across the crypto market, resulting in $694.11 million in total liquidations in the last 24 hours.
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.