Investing.com - Manufacturing activity in the U.S. expanded at a faster pace than expected in May, easing concerns over the health of the economy, industry data showed on Monday.
In a report, the Institute for Supply Management said its index of purchasing managers rose to 52.8 last month from a reading of 51.5 in April. Analysts had expected the manufacturing PMI to edge up to 52.0 in May.
On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
EUR/USD was trading at 1.0936 from around 1.0968 ahead of the release of the data, GBP/USD was at 1.5233 from 1.5266 earlier, while USD/JPY was at 124.32 from 124.02 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 97.33, compared to 97.07 ahead of the report.
Meanwhile, U.S. equity markets remained mixed. The Dow 30 tacked on 0.25%, the S&P 500 inched up 0.1%, while the Nasdaq Composite shed 0.1%.
Elsewhere, in the commodities market, gold futures traded at $1,201.80 a troy ounce, compared to $1,204.20 ahead of the data, while crude oil traded at $60.50 a barrel from $60.37 earlier.