US Economic Indicators Signal Potential Slowdown: USD Factory Orders, ISM Employment, Prices, and PMI Data Revealed

One Million Trade - 2024-03-05 15:00:00

The data published on USD Factory Orders, ISM Non-Manufacturing Employment, Prices, and PMI all point towards a weakening economic situation in the United States. The Factory Orders have declined more than expected, indicating a decrease in demand for manufactured goods. The ISM Non-Manufacturing Employment index dropping below 50 suggests a slowdown in hiring in the services sector, which is a significant portion of the US economy. The Prices and PMI data also show a moderation in economic activity. These numbers could lead to concerns about a potential economic slowdown in the US, affecting consumer and business sentiment.

Currency sentiment: Bearish on USD

Sentiment timeframe: Short to medium term