Investing.com - Manufacturing activity in the U.S. picked up the pace in November, beating forecasts, according to an industry report released on Monday.
The Institute for Supply Management said its index of manufacturing activity rose to 53.2 last month from October’s reading of 51.9.
Analysts had forecast a smaller increase to 52.2.
A reading above 50.0 indicates expansion in the manufacturing sector, below indicates contraction.
The new orders index rose to 53.0 in November from 52.1 a month earlier.
The employment index declined to 52.3 last month from the prior 52.9, in line with forecasts.
The prices paid index remained steady at 54.5, compared to expectations for a drop to 54.0.
In an immediate reaction, EUR/USD was trading at 1.0600 from around 1.0597 ahead of the release of the data, GBP/USD was at 1.2634 from 1.2637 earlier, while USD/JPY was at 114.59 from 114.69 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 101.45, compared to 101.48 ahead of the report.
Meanwhile, U.S. stock markets were trading mixed after the open. The Dow 30 gained 61 points, or 0.32%, the S&P 500 inched up 2 points, or 0.07%, while the Nasdaq Composite traded down 11 points, or 0.20%.
Elsewhere, in the commodities market, gold futures traded at $1,165.45 a troy ounce, compared to $1,164.50 ahead of the data, while crude oil traded at $50.89 a barrel from $50.72 earlier.