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BREAKING: USD gains after mixed PMIs

3:46 PM 24 November 2023

A set of flash US PMI indices for November was released today at 2:45 pm GMT. US PMI data for November came in a few days later than European data due to the Thanksgiving holiday observed in the United States earlier this week. Data was expected to show deterioration in manufacturing and services sectors, with index for manufacturing dropping below 50 pts contraction-expansion threshold.

Actual report turned out to be mixed - manufacturing index dropped more than expected while services index unexpectedly improved. Such a combination allowed composite index to stay unchanged compared to previous month.

US, flash PMI indices for November

  • Manufacturing: 49.4 vs 49.8 expected (50.0 previously)
  • Services: 50.8 vs 50.3 expected (50.6 previously)
  • Composite: 50.7 vs 50.4 expected (50.7 previously)

USD gained following the release with EURUSD moving slightly lower in a knee-jerk move. Wall Street indices moved slightly lower.

Source: xStation5

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