US manufacturing widens expansion in June

US manufacturing widens expansion in June

U.S. manufacturing sector showed a widening expansion last month, as the ISM manufacturing Purchasing Mangers’ Index (PMI) posted 57.8, the highest record in nearly three years, from 54.9 in May, while analysts had predicted a reading of 55.0.

The final manufacturing PMI released today came in at 52.0, below both preliminary and expected readings of 52.1.

As of 14:07 GMT, the dollar traded higher versus a basket of major currencies around 96.08, as depicted by the dollar index.

Ahmed Mamdouh

Ahmed Mamdouh, Co-Founder and Head of English Fundamental Analysis at FXComment.com, with 7 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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