US ISM Manufacturing Survey
Actual: 54.5      Forecast: 54.5
Previous: 54.7
US Prices Paid
Actual: 73.0      Forecast: 76.0
Previous: 78.5
The US ISM Manufacturing Survey came in just at median analysts forecasts, declining slightly on the previous month's result. In fact, the Prices Paid component fell a full 5.5 points, reflecting slowed price pressures on US manufactured goods on slowed orders, which fell from 56.1 to 54.2 on the month. To put a positive spin on an otherwise mediocre report, the Manufacturing Employment component posted a 3.3 point gain from 50.7 to 54.0. This is certainly an optimistic result given that manufacturing payrolls growth have been on a steady downtrend. Dollar markets took the overall news to be bearish, with the greenback losing approximately half of its gains on this morning's NFP report through trading following the ISM releases. - David Rodriguez