On May 1, 2025, the Institute for Supply Management released ISM Manufacturing PMI report for April. The report indicated that ISM Manufacturing PMI decreased from 49 in March to 48.7 in April, compared to analyst forecast of 48. Numbers below 50 show contraction.
New Orders Index increased from 45.2 in March to 47.2 in April, while Production Index declined from 48.3 to 44.0.
The report indicated that tariffs remained the key factor for businesses. It’s not surprising to see that ISM Manufacturing PMI is in the contraction territory as businesses are cautious in the current environment.
U.S. Dollar Index moved above the psychologically important 100.00 level as traders reacted to the better-than-expected ISM Manufacturing PMI report. From a big picture point of view, the American currency continues to rebound from yearly lows.
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See all Gold forecastsGold settled near the $3225 level after the release of the report. Gold remains under material pressure as demand for safe-haven assets declines.
SP500 made an attempt to settle above the 5630 level as traders reacted to the report. Stock traders stay bullish amid reports indicating that the U.S. has reached progress in trade negotiations. Trade wars will remain the key catalyst for SP500 in the near term.
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