Results of the Chicago PMI for February 2019
- Best since Dec 2017
- Prior was 56.7
- Prices paid rose at a faster pace
- New orders rose at a faster pace
- Employment rose at a faster pace
- Inventories fell
- Production rose at a faster pace
- Order backlogs rose at a faster pace
The sharp drops in manufacturing surveys late in 2018 deeply worried markets but those worries are mostly gone as they continue to rebound. The whole thing is going to end up as a bit of a mystery.
In any case, USD/JPY is at the highs of the day at 111.27 as a result of the report.
