• ISM Manufacturing PMI fell to its weakest since November 2020 in January at 57.6.
• The Employment subindex hit its highest since last March. 

According to a survey compiled by the Institute of Supply Management, US Manufacturing PMI fell to 57.6 in January from 58.7 in December. That was a little higher than the expected reading of 57.5, but nonetheless and marked the weakest reading since November 2020.

Subindices:

• Prices Paid rose to 76.1 from 68.2. 
• New Orders fell to 57.9 from 61.0, its lowest since June 2020. 
• Employment rose to 54.5 from 53.9, its highest since March 2021. 

Market Reaction

FX markets did not seemingly react too much to the latest ISM figures.