Manufacturing Activity lowest since end 2009
The pace of growth in US manufacturing activity slowed down in May. Data published on Wednesday by the Institute for Supply Management showed the manufacturing index at its lowest level since September 2009.
ISM Manufacturing PMI came in at 57.2 for May, down from 60.4 in April and less than forecasted figure of 57.2.
EUR/USD spiked higher almost 40 pips to 1.4441 from 1.4402 instantly after the ISM reading.
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