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US Manufacturing PMI Improved to 54.9 for April

The March PMI was 53.7, and economists had forecast 54.3 for April. The 54.9 reading is the best so far this year. The Output component improved the fmost, to 58.2, the highest level in over 3 years, according to the official press release from Markit.

The positive manufacturing data may help counter the disappointment from the 0.1% Q1 GDP reported yesterday. 

If Jobs data tomorrow also exceed expectations, we could end the week with some USD-strength, especially in the USD/JPY.