March ISM manufacturing index lowest since May 2013:
- Prior was 51.5
- Prices paid 39.0 vs 35.0 prior
- New orders 51.8 vs 52.5 prior
- Employment 50.0 vs 51.4 prior
- All lowest since May 2013
The strong dollar is beginning to hit US manufacturing.
ISM manufacturing index
Despite the soft data, the euro has been unable to make any further headway against USD. EUR/USD hit 1.0800 after the ADP data but has slid down to 1.0736 since. Talk about Greece missing the April 9 IMF repayment deadline is weighing.