BREAKING: US Factory Growth Below Forecasts: ISM

The Institute for Supply Management's (ISM) Manufacturing PMI in September declined to 55.4 from 56.0 in the previous month. Today’s reading came in below market forecasts of 56.3. "After the coronavirus pandemic brought manufacturing activity to historic lows, the sector continued its recovery in September. Survey Committee members reported that their companies and suppliers continue to operate in reconfigured factories and are becoming more proficient at maintaining output. Panel sentiment was optimistic, an improvement compared to August", Timothy R. Fiore, Chair of the ISM said.

The reading pointed to the 4th consecutive month of growth in factory activity, although it slowed from August's high. Source: Bloomberg

EURUSD saw relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 1.1740 level. Source: xStation5

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