Created
: 2025.06.02
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
US ISM Manufacturing PMI drops to 48.5 in May
Breaking news
US ISM Manufacturing PMI drops to 48.5 in May
New
2025.06.02 23:06
2025.06.02 23:06
2025.06.02 23:06
- ISM Manufacturing PMI deflated to 48.5 in May, missing consensus.
- The US Dollar remains well on the defensive, flirting with multi-week lows.
Economic activity in the US manufacturing sector lost momentum in May, with the ISM Manufacturing PMI receding to 48.5 from 48.7 in April, coming in below analysts' estimates of 49.5.
The Employment Index increased a tad to 46.8 from 46.5 in April, indicating that the sector's payrolls are increasing at a faster pace. In the meanwhile, the Prices Paid Index, the survey's inflation component, eased slightly to 69.4 from 69.8. In addition, the New Orders index went up to 47.6 from April's 47.2.
Market reaction
The US Dollar (USD) trades on a marked bearish bias on Monday, retesting the sub-98.00 region in the wake of the data release and despite reignited concerns on the trade front.
GDP FAQs
A country's Gross Domestic Product (GDP) measures the rate of growth of its economy over a given period of time, usually a quarter. The most reliable figures are those that compare GDP to the previous quarter e.g Q2 of 2023 vs Q1 of 2023, or to the same period in the previous year, e.g Q2 of 2023 vs Q2 of 2022. Annualized quarterly GDP figures extrapolate the growth rate of the quarter as if it were constant for the rest of the year. These can be misleading, however, if temporary shocks impact growth in one quarter but are unlikely to last all year - such as happened in the first quarter of 2020 at the outbreak of the covid pandemic, when growth plummeted.
A higher GDP result is generally positive for a nation's currency as it reflects a growing economy, which is more likely to produce goods and services that can be exported, as well as attracting higher foreign investment. By the same token, when GDP falls it is usually negative for the currency. When an economy grows people tend to spend more, which leads to inflation. The country's central bank then has to put up interest rates to combat the inflation with the side effect of attracting more capital inflows from global investors, thus helping the local currency appreciate.
When an economy grows and GDP is rising, people tend to spend more which leads to inflation. The country's central bank then has to put up interest rates to combat the inflation. Higher interest rates are negative for Gold because they increase the opportunity-cost of holding Gold versus placing the money in a cash deposit account. Therefore, a higher GDP growth rate is usually a bearish factor for Gold price.
Last updated
: 2025.06.02
Related articles
AUD/USD: Expected to trade in a range between 0.6445 and 0.6490 - UOB Group
2 minutes agoCAD: Don't rule out a BoC cut today - ING
5 minutes agoGBP/USD: A sustained advance can be expected above 1.3600 - UOB Group
13 minutes agoEUR/USD: Likely to trade in a range of 1.1360/1.1430 - UOB Group
16 minutes agoAUD/USD is looking for direction around 0.6450 ahead of US employment data
21 minutes agoEUR: Staying below 1.140 for now - ING
22 minutes ago
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
BoC set to leave interest rate unchanged amid rising inflation and US trade war
Market analysts generally predict that the Bank of Canada (BoC) will keep its interest rate at 2.75% on Wednesday, adding to the pauses recorded at the March and April monetary policy meetings.
New
2025.06.04 18:00AUD/USD: Expected to trade in a range between 0.6445 and 0.6490 - UOB Group
Australian Dollar (AUD) is expected to trade in a range between 0.6445 and 0.6490 against US Dollar (ISD). In the longer run, price action suggests AUD could continue to rise and test the significant resistance level at 0.6540, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.06.04 17:58CAD: Don't rule out a BoC cut today - ING
Today's Bank of Canada meeting has been a very hard one to call, ING's commodity experts Ewa Manthey and Warren Patterson note.
New
2025.06.04 17:56OPEC output grows in May - ING
ICE Brent hit its highest level since mid-May yesterday, with the front-month contract trading just shy of US$66/bbl. Wildfires in Alberta, Canada, provided a boost to prices. This, at a time when the market is digesting the announced OPEC+ July supply hike.
New
2025.06.04 17:53GBP/USD: A sustained advance can be expected above 1.3600 - UOB Group
Current price movements are likely part of a 1.3490/1.3555 range trading phase. In the longer run, Pound Sterling (GBP) must first close above 1.3600 before a sustained advance can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.06.04 17:48Oil: Central bank Gold buying slows in April - ING
Central banks added a net 12 tonnes of Gold to global Gold reserves in April, 12% lower than the previous month and below the 12-month average of 28 tonnes, according to the latest data from the World Gold Council.
New
2025.06.04 17:45EUR/USD: Likely to trade in a range of 1.1360/1.1430 - UOB Group
Euro (EUR) is likely to trade in a range of 1.1360/1.1430. In the longer run, EUR outlook is revised to positive; the immediate levels to watch are 1.1495 and 1.1530, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.06.04 17:44AUD/USD is looking for direction around 0.6450 ahead of US employment data
The Australian Dollar is practically flat on the daily chart, moving back and forth around the 0.6450 area, following a reversal from the 0.6500 area on Thursday, after downbeat data and dovish RBA minutes.The minutes of the latest RBA monetary policy meeting revealed that the bank considered a 50 b
New
2025.06.04 17:40EUR: Staying below 1.140 for now - ING
As we had anticipated, EUR/USD was looking a bit too expensive close to 1.145, and the bounce below 1.140 is probably due to some short-squeezing, ING's FX analyst Francesco Pesole notes.
New
2025.06.04 17:39EUR/GBP steadies near 0.8400 following PMI data from Eurozone, Germany
EUR/GBP moves little after registering losses in the previous session, trading around 0.8420 during the European hours on Wednesday. The currency cross remains steady after the Purchasing Managers' Index (PMI) data was released from the Eurozone and Germany.
New
2025.06.04 17:25Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
