The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US. Latest release for the month of April was released as 52.8 vs 55.0 expected.The US Dollar did get some respite following the release of robust ADP report – showing that the US private sector employers added 275K new jobs in April, though was largely offset by the latest disappointment from US ISM manufacturing PMI. The Worst than expected PMI dropped the Dollar index to 97.20 breaking the 1hour trendline. Later, the FOMC will set the monthly benchmark rate and release a rate statement. On Thursday, the U.S. posts unemployment claims and Australia releases building approvals.