Silver price (XAG/USD) faces an immense sell-off as the United States Institute of Supply Management (ISM) reported a higher-than-anticipated Manufact
The US Dollar eyes more upside as the US Manufacturing PMI outperformed expectations but remained below the 50.0 threshold.Institute of Supply Management reported a higher-than-anticipated Manufacturing PMI for September. The economic data landed at 49.0, much higher than estimates and the former release of 47.7 and 47.6 respectively.
In spite of upbeat factory activities, the Manufacturing PMI remained below the 50.0 threshold for the 10th time in a row. The New Orders Index for the US factory also outperformed expectations and jumped to 49.2 from the August reading of 46.8. recovered its entire gains, and jumped to near 106.80, as the market mood dampened after weak Caixin Manufacturing PMI data for September. China’s factory activities missed estimates by a wide margin but managed to remain above the 50.0 threshold.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.EUR/USD came under renewed bearish pressure and declined toward 1.0500 in the second half of the day on Monday. After the data from the US showed that the ISM Manufacturing PMI came in better than expected in September, the US Dollar extended its rally and weighed on the pair.GBP/USD turned south and retreated to a fresh daily low below 1.2150 in the American session.
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