Manufacturing Business

“Less bad is Good”, but for how long?.
On a more positive theme, data showed that manufacturing in the US fell last month at the slowest pace in 10-months. The ISM Manufacturing PMI advanced to 44.8 from 42.8 in May. After trimming inventories at the fastest pace on record in the 1st Q, any pick up in consumer demand will kick start a recovery in manufacturing and by default convince factories to bump up production. The index is very close to the 50-neutral level, a positive signal that activity should resume in the 2nd half of this year.

The USD$ currently is higher against the EUR -0.37%, GBP -0.80%, CHF -0.60% and JPY -0.04%. The commodity currencies are weaker this morning, CAD -0.15% and AUD -0.64%. A national holiday yesterday left trading of the loonie up to everyone else rather than the domestics calling the shots.more