Forex News

49.5 vs 48.2 last month.

New Orders 47.9 vs. 48.6
Price Index 80.8 vs 84.5
Backlog 52 vs 49.0
Employment 47.1 vs 43.8
Inventory 54.5 vs. 53.0

Although better than expected, the index remains near the 50 level indicating sluggish growth.  The good news is the economic slowdown is not accelerating.  The non-manufacturing sector accounts for about 90% of the US economy.

The US Personal Income and Spending are due out at 8:30 AM EDT.  Personal Income is expected to be down 0.2% in June after rising 1.9% last month.   Personal Spending is expected to show a 0.4% rise after a 0.8% rise last month.  Both measures last month were influence by tax rebate checks.    The income figure was the highest in 3 years. 

Come in at +0.8 and Ex Transportation + 2.0. This is the largest reading this year.

Should be good for stocks and the dollar but the number does have a tendency to be volatile. 

Growing exports is reported to be contributing to the manufacturing sector.  A lower dollar makes US goods abroad more competitive.