ISM Manufacturing for April: 49.2 (expected: 50; previously: 50.3)
- Prices paid: 60.9 (expected: 55.4; previously: 55.8)
- New orders: 49.1 (expected: 51; previously: 51.4)
- Employment: 48.6 (expected: 48.2; previously: 47.4)
JOLTS: 8.488 million (expected: 8.69M; previously: 8.756M)
The data shows a further slowdown in the manufacturing sector. It is worth noting that the new orders subindex falls below 50 points. On the other hand, the reaction on the dollar may be limited due to the very hot price subindex, which rises above 60 points. This is another point indicating the lack of prospects for interest rate cuts at this time. On the other hand, the data indicating a slowdown and high inflation are not very good for the stock market. It is also worth noting that EURUSD reacted positively in the first response, but is currently paring those gains.
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