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US ISM manufacturing index beats estimates-USD/JPY hits fresh session highs
The US April ISM manufacturing index has just been released. The markets were expecting a headline number of 48, down slightly from the prior reading of 49. It has just been posted at 48.7 The prices paid element was expected to rise above 73, from what was already an elevated level of 69.4 seen last month. That has only risen to 69.8. The new orders and employment component were not expected to deviate much from when last at 45 and 44.7 respectively. Well, those have both beaten estimates and especially the new orders component, which has risen to 47.2. The USD/JPY has reacted positively to the news. rising to session highs close to 145. The USD/JPY is right now at 144.92
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