The ISM manufacturing index US for the month of June came in above expectations this Monday, at 51.7 points, versus 51 expected.
It is all the more of a good surprise that the recent regional manufacturing indexes of the antennas of the Fed were recently shown to be particularly disappointing.
The most important, the index of the Philadelphia Fed, for example, was out of 0.3 points versus 10.4 anticipated and 16.6 above for the month of June, while the index of the Fed of New York was displayed in 49.7 points vs. 53.5 expected and 54.2 previously.
After the successful meeting between Trump and Xi last Saturday, the first statistics US major of the week is involved to lower the likelihood that the Fed will lower its rates at the end of the month.
If a good surprise is also on the menu for the report NFP which will be released on Friday, the market will start to seriously review its copy in relation to the expectations of a rate cut from the Fed.
On the forex, it will be noted that the ISM index higher than expectations boosting the us dollar, with consequences that are bearish on EUR/USD and Gold in particular.