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Mixed results from US ISM and JOLTS data sees EUR/USD rise off lows
The details of the October US Institute of Supply Management (ISM) manufacturing index have just come across the wires. As noted here earlier today, the markets were expecting the headline number to be unchanged at 49. However, there are a number of components outside of the headline number and those are the prices paid, new orders and employment. Also out was the latest JOLTS, job openings data. The headline ISM index actually fell to 46.7. The JOLTS data was higher though, at 9.553 million. The ISM new orders was lower, at 45.5, compared to 49.2 and so was the employment component, at 46.8. The prices paid element was higher than forecast, at 45.1 The impact of this contrasting data has on balance pushed the dollar lower. It did rise initially, but it is now edging back down. The EUR/USD slipped to 1.0522. It is now trading at 1.0541
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