News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: US 500: 1.39% Wall Street: 0.76% FTSE 100: 0.18% Germany 30: 0.15% France 40: 0.15% View the performance of all markets via
  • US indices remain up following Biden's inauguration, with the S&P and Nasdaq hitting fresh all time highs today. DOW +0.76% NDX +1.83% SPX +1.33% RUT +0.12% $DOW $QQQ $SPY $IWM
  • USD/CAD falls to session lows as Loonie gains immediately after the BoC rate decision. Get your $USDCAD market update from @RichDvorakFX here:
  • $EURJPY is trading below 125.50 today after attempting to stage a recovery yesterday. The pair had climbed back above 126.00 yesterday after falling to around 125.10, its lowest level since early December, during Monday trading. $EUR $JPY
  • US Senator Romney: Not looking for new stimulus in the immediate future. $SPY $USD
  • Mexican #Peso Outlook: $USDMXN Breakdown to Nine-month Lows -
  • BoE Governor Bailey: - Transmission of policy at zero or negative rates is much less clear - Evidence suggests impact of negative rates isn't straightforward but they can work - Sensible to have negative rates in the toolbox $GBP
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 64.46%. See the summary chart below and full details and charts on DailyFX:
  • BoE Governor Bailey: - No decision has been made on negative rates - BoE has not discussed whether or not to introduce negative rates $GBP
  • BoE Governor Bailey: - We should see quite a pronounced recovery in economic activity as vaccine rollouts continue - UK cannot become a rule-taker from the EU in finance - UK will continue to be a global financial center $GBP
ISM Prices Hit Seven-Year High; Tariffs Cause Concern

ISM Prices Hit Seven-Year High; Tariffs Cause Concern

Dylan Jusino,

Talking Points:

- ISM manufacturing composite missed estimates at 59.3% vs 60.0% expected

- Labor shortages put pressure on output; supplier deliveries face adversities

- The US Dollar Index diped slightly lower following today’s ISM report

- See the DailyFX Economic Calendar for upcoming economic data and for a schedule of live coverage see the DailyFX Webinar Calendar.

Most ISM Surveys Cool, Excluding Prices

The Institute for Supply Management (ISM) reported that the manufacturing sector survey fell by 1.5% compared to February and now stands at 59.3%. Markets anticipated a decline of only 0.8% as this month’s print missed estimates. Similarly, the New Orders Index fell from the previous month, but by a larger margin at 2.3% coming in at 61.9% in March. The Employment Index continued the downtrend registering a 2.4% loss over February, coming in at 57.3% in March. Contrarily, the Prices Paid index rose by a sizable 3.9% in March at 78.1% compared to the previous figure. This marked its highest reading since April 2011. Raw materials recorded their 25th consecutive monthly increase.

Comments from the Panel

Robust demand remains the theme as the New Orders Index remained above 60 for the 11th consecutive month. This has dragged down the customers’ inventories index to its lowest reading since July 2011. Consumption continued to expand indicating that labor and skill shortages are affecting production output. Supplier deliveries, inventories and imports, were negatively impacted by weather conditions, steel and aluminum disruptions, and equipment shortages.

Asian holidays; lead time extensions; steel and aluminum disruptions across many industries; supplier labor issues; and transportation difficulties due to driver and equipment shortages. Export orders remained strong, supported by a weaker U.S. currency. The Prices Index is at its highest level since April 2011, when it registered 82.6 percent. In March, price increases occurred across 17 of 18 industry sectors. Demand remains robust, but the nation’s employment resources and supply chains are still struggling to keep up.”

See the newly updated fourth quarter forecasts for the US Dollar, Euro, British Pound and more the DailyFX Trading Guides page.

Here are some notable responses from the ISM survey:

  • Significant price increases in the steel commodity due to 232 [the tariffs]. The price increases will begin to impact our company’s performance.
  • Much concern in the industry regarding the steel and aluminum tariffs recently [imposed]. This is causing panic buying, driving the near-term prices higher and [leading to] inventory shortages for non-contract customers.” (Machinery)
  • "International demand is strong for our products in all regions. We are seeing constraints in multiple chemical supply chains due to increased global demand. We are concerned about the impact of tariff and trade wars on demand, but at this time, [there are] no signals that global demand is slowing." (Chemical Products)
  • Hiring continues to slowly increase from February into March and capital spending was allowed a small increase. Oil market conditions have improved and continue to stabilize. (Petroleum & Coal Products)

See the full manufacturing survey results below:

ISM Prices Hit Seven-Year High; Tariffs Cause Concern

Source: March 2018 Manufacturing ISM

Below is a list of economic releases that has driven the US Dollar slightly lower:

- USD ISM Manufacturing (MAR): 59.3 versus 60.0 expected, from 60.8

- USD ISM Employment (MAR): 57.3 from 59.7 previous

- USD ISM Prices Paid (MAR): 78.1 versus 72.5 expected, from 74.2 previous

See the DailyFX economic calendar for Monday, April 2, 2018

Chart 1: DXY Index 15-minute Chart (March 27 - April 2, 2018)

ISM Prices Hit Seven-Year High; Tariffs Cause Concern

The US Dollar Index has been in a sideways channel throughout the holiday weekend. While ISM did not prduce a substantial reaction in DXY, the index did fall by about 0.14% following the release. At time that this written DXY traded at 89.89.

--- Written by Dylan Jusino, DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.