The New Orders Index decreased from 47.4 in July to 44.6 in August, while Production Index decreased from 45.9 to 44.8.
The Institute for Supply Management commented: “Demand remains subdued, as companies show an unwillingness to invest in capital and inventory due to current federal monetary policy and election uncertainty.”
Today, traders also had a chance to take a look at the final reading of S&P Global Manufacturing PMI report. The report showed that S&P Global Manufacturing PMI declined from 49.6 in July to 47.9 in August, compared to analyst forecast of 48.
U.S. Dollar Index was flat as traders reacted to PMI data. Currently, U.S. Dollar Index is trying to settle below the 101.60 level. Treasury yields are moving lower, which is bearish for the American currency.
Gold settled near the $2485 level amid broad pullback in commodity…
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