U.S. factory activity grew in October, with the ISM PMI at 55.5%, near its 12-month high, and the S&P Global PMI at 54.9. Factory hiring rose to levels not seen in over five years as strong demand, especially for AI-related goods and equipment, pushed backlogs higher, while delivery delays were the most widespread since 2022. Producers increasingly passed higher costs on to customers, and S&P Global's Chris Williamson warned this could keep inflation well above the Fed's target and add pressure to raise rates. Victoria Bloom of the National Association of Manufacturers called both reports a sign of continued strength, noting a pickup in machinery and equipment investment. She said job growth can continue as long as new orders keep coming, though economic uncertainty remains a concern.
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▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 11/02/2026 | 101.80 |
| Change that session | -0.16% |
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