On February 1, 2024, the Institute for Supply Management (ISM) released the ISM Manufacturing Purchasing Managers Index (PMI) report.。The report showed that the ISM manufacturing PMI was up from 47 in December, compared to the 47 expected by analysts..4 rose to 49 in January.1 (below 50 for economic contraction)。The manufacturing sector has contracted for the 15th consecutive month.。

ISM said: "Demand remains weak, but there are signs of improvement, production execution is stable compared to December, and the companies surveyed continue to manage output, raw material inputs and labor costs."。"

Today, traders also have a chance to see the final figures from the S & P Global Manufacturing PMI report for January.。The report shows that the manufacturing PMI is up from 47 in December last year..9 rose to 50 in January.7, above analysts' expectations of 47.2。

Following the PMI report, the dollar index was at 103.Oscillation near level 50。Traders are still analyzing Powell's opinion, and it is unclear whether the better-than-expected PMI data will further support the dollar.。

Gold continues to try to stand above the $2050 mark, with the recent fall in Treasury yields providing substantial support to the precious metals market。

Traders react to PMI data as S & P 500 tries to stand firm at 4870 level。From a technical perspective, the S & P 500 is trying to rally after yesterday's sell-off。