The US Jul ISM manufacturing index fell to 46.8The US Jul ISM manufacturing index fell to 46.8, the lowest since Nov 2023 (cons. 48.8, prev. 48.5).
Additionally, the final Jul S&P Global PMI manufacturing index was slightly higher than the preliminary estimate but still indicated contraction, reflecting the industry's struggles amid lower demand and high interest rates. This contraction could prompt the Fed to cut rates, potentially weakening the dollar.