US Manufacturing PMI at a one-year low
US Manufacturing PMI declined to 53.5, while analysts were expecting smaller decrease to 54.9. Index remained well above the neutral 50.0 threshold, to signal a robust improvement in overall business conditions. That said, the headline PMI was unchanged since December and the jointlowest for a year, thereby indicating that growth momentum across the manufacturing sector has cooled from the peaks seen in the summer of 2014.
Slower new business growth was the main drag on the headline index in January. Survey respondents noted that improving economic conditions had boosted sales at the start of the year, but export demand remained subdued. There were also reports from investment goods producers that weaker spending patterns among clients in the oil and gas sector had contributed to weaker new business growth.
After the data, USD edged down slightly. Euro is currently being traded around 1.1360 level, Sterling is around 1.5080 area, while Aussie is few points above 0.7810 level.
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