BREAKING: US factory growth weaker than expected: ISM

The Institute for Supply Management's (ISM) Manufacturing PMI in November declined 57.5 from 59.3 in the previous month. Today’s reading came in below market forecasts of 57.9, however pointed to the 6th consecutive month of expansion in factory activity. "The manufacturing economy continued its recovery in November. Survey Committee members reported that their companies and suppliers continue to operate in reconfigured factories, but absenteeism, short-term shutdowns to sanitize facilities and difficulties in returning and hiring workers are causing strains that will likely limit future manufacturing growth potential. Panel sentiment, however, is optimistic", said Timothy R. Fiore, Chair of the ISM Manufacturing Business Survey Committee.

EURUSD saw relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 1.1990 level. Source: xStation5

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