Details of the March 2017 US ISM manufacturing PMI data report 3 April 2017
Prior 57.7
- Employment 58.9 vs 54.7 exp. Prior 54.2
- Prices paid 70.5 vs 66.0 exp. Prior 68.0
- New orders 64.5 vs 65.1 prior
- Export orders 59.0 vs 55.0 prior
The underlying numbers (jobs, inflation) are Fed positive, especially the prices component.
There's a whole set of positive comments from survey respondents (bar one).
Not that the Fed would move on these numbers alone but if we hadn't just had a hike, this would have had Fed hike watchers drooling. The best we can do is USDJPY ticking up to 111.46 and then back down to 111.27.
US ISM manufacturing prices paid
