The ISM-Chicago’s Purchasing Managers’ Index jumped from 36.6 in June to 51.9 in July. This reading beat the market expectation of 43.9 by a wide margin.
The greenback started to gather strength against its rivals in the American session with the upbeat data providing a boost to US Treasury bond yields. As of writing, the 10-year US Treasury bond yield was up 2.7% on a daily basis and the US Dollar Index was up 0.2% at 93.15.