Prior month 48.5ISM manufacturing 49.0 verse 48.8 estimatePrices paid 69.7 vs 69.0 estimate. Prior 69.4Employment 45.0 versus 47.0 estimate.New orders 46.4 versus 47.6 last month
Below is a look at each of the major components and the direction for each:
US yields have moved up after the manufacturing data, the JOLTs data. The US and their yield is now up to face points at 4.248%.
The USD has also moved higher with the GBPUSD now testing the 100 hour MA and lower on the day. The EURUSD is also moving back toward unchanged on the day after the data. There is close support between 1.1753 to 1.1769 (see chart below). Gettting below that level is needed to give the sellers some added confidence at least in the short term.
This article was written by Greg Michalowski at www.forexlive.com.