US ISM Manufacturing PMI Surges to 55.6 in July, Beating Forecasts
The ISM Manufacturing PMI jumped to 55.6 in July from 53.3 in June, exceeding the 54 forecast, signaling accelerating expansion in US factory activity.
DXY
The Institute for Supply Management's Manufacturing PMI rose to 55.6 in July, up sharply from 53.3 in June. The figure exceeded the consensus forecast of 54, indicating a faster pace of expansion in the manufacturing sector.
A reading above 50 signals expansion, and the July data suggests that US factory activity gained momentum after a milder expansion in the prior month.
The stronger-than-expected report could reinforce expectations for resilient economic growth, potentially impacting Federal Reserve policy outlook and the US dollar.
Source: FXStreet Forex News