US ISM Manufacturing PMI boosts USD

Note: This section contains information in English only.
Source: Dukascopy Bank SA


At 14:00 GMT, the US Dollar strengthened against peer currencies and other assets.

The surge occurred due to the better than expected US Institute for Supply Management Purchasing Managers Index survey results. The index beat the market expectations of 52.1 by being revealed to be 52.8.

The better results indicate that the US Federal Reserve can continue to tighten monetary policy and reduce the availability of the USD to fight inflation. Due to that reason the US currency strengthened.

The EUR/USD reacted to the news by plummeting 0.46% over the span of 15 minutes after the release.
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