BREAKING: US ISM clearly below consensus 🔔

02:45 PM GMT, United States - PMI Data for February:

• S&P Global US Manufacturing PMI: actual 52.2; forecast 51.5; previous 50.7;

03:00 PM GMT, United States - ISM Data for February:

• ISM Manufacturing Employment: actual 45.9; previous 47.1;
• ISM Manufacturing New Orders Index: actual 49.2; previous 52.5;
• ISM Manufacturing PMI: actual 47.8; forecast 49.5; previous 49.1;
• ISM Manufacturing Prices: actual 52.5; forecast 53.5; previous 52.9;

03:00 PM GMT, United States - University of Michigan inflation report for February:

• Michigan 1-Year Inflation Expectations: actual 3.0%; forecast 3.0%; previous 2.9%;
• Michigan 5-Year Inflation Expectations: actual 2.9%; forecast 2.9%; previous 2.9%;
• Michigan Consumer Expectations: actual 75.2; forecast 78.4; previous 77.1;
• Michigan Current Conditions: actual 79.4; forecast 81.5; previous 81.9;
• Michigan Consumer Sentiment: actual 76.9; forecast 79.6; previous 79.0;

The ISM report, coming as a surprise, especially after the positive S&P Global report, presents a mix of cautious optimism and varied business perspectives across different industries. Some sectors like Chemical Products and Machinery are witnessing increased sales and expect stronger performance in the upcoming quarters, with notable growth in customer orders. 

EURUSD gains after ISM publication and rebounds following the positive S&P Global report.

Source: xStation 5