US Manufacturing PMI Hits 54.5, Signaling Continued Expansion

The US manufacturing PMI for the latest month was reported at 54.5, falling slightly short of the expected 54.8 and the previous 54.6. Despite the miss, the figure remains well above the 50-point threshold, indicating robust manufacturing growth. The data has sparked concerns regarding inflation and potential Federal Reserve interest rate policy, exerting slight downward pressure on risk assets. Bitcoin is currently trading at $83,870 (-0.7%), and Ethereum is at $2,694.85 (-0.4%).