U.S. ISM manufacturing index likely to have risen slightly in March

U.S. ISM manufacturing index for the month of March is set to release tomorrow. According to a TD Economics research report, the ISM index is likely to have risen slightly as the regional Fed surveys imply manufacturing activity is holding up or might have even recovered in March.

Indeed, the average of the ISM-adjusted regional surveys recorded its first rise in four months to 54.2 in March, as only one out of the five surveys registered a fall. Based on the regional data, rebounds are expected in the production and employment components of the survey, which are expected to be paired back by a fall in new orders.

“That said, across the-board weak global manufacturing PMIs increase the risk for a downside surprise in March”, added TD Economics.

At 20:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was slightly bullish at 53.9363 more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex