ISM US nonmanufacturing PMI index 55.2 versus 50.4 estimate
ISM Non Manufacturing index Nonmanufacturing PMI index 55.2 versus 50.4 estimate. Prior month 49.2 nonmanufacturing business activity index 60.4 versus 54.5 estimate. Prior month 53.5 employment index 50.0 versus 49.4 last month new orders index 60.4 versus 45.2 last month prices paid index 67.8 versus 68.1 last month new export orders 59.0 versus 47.7 last […]
USD Index extends the upside north of 102.00 ahead of ISM
The index picks up extra pace after another solid NFP print. The US labour market shows no signs of weakness so far. The US economy added far more jobs than predicted. The greenback adds to the optimism seen in the second half of the week and lifts the USD Index (DXY) back above the 102.00 […]
ISM Services PMI rebounds to 55.2 in January vs. 50.4 expected
ISM Services PMI in January rose back into the expansion territory. US Dollar Index clings to impressive daily gains above 102.50. The economic activity in the US service sector expanded at a robust pace in January with the ISM Services PMI rising to 55.2 from 49.2 in December. This reading came in better than the […]
Focus on Purchasing Managers Index and ISM as Economic Gauges
If you’ve asked yourself, “what is purchasing managers index?” or wondered how the Purchasing Managers Index (PMI) and the Institute for Supply Management (ISM) index are key economic indicators, read more. What to Take Away from the PMI and ISM Reports The PMI and ISM provide guidance on factors affecting durable goods among other inputs. […]
Recession is coming but the ISM does not mark the start of it – Wells Fargo
The ISM Service PMI for December released on Friday came in below expectations and triggered fears about a hard landing of the economy. Analysts at Wells Fargo forecast a recession is coming but they point out that this report does not market the start of it. Key quotes: “One unsettling takeaway from today’s services ISM […]
Choppy Trading Seeks Catalyst, NFP and ISM?
AUD/USD ANALYSIS & TALKING POINTS U.S. data in focus for AUD/USD. Commodity prices providing sustenance for Aussie. Technical analysis points to hesitancy ahead of economic releases. Recommended by Warren Venketas GET AHEAD OF THE CURVE AND READ OUR AUD Q1 GUIDE AUSTRALIAN DOLLAR FUNDAMENTAL BACKDROP The pro-growth Australian dollar is enjoying some upbeat risk sentiment […]
AUD/USD soars sharply above 0.6850 on weak ISM data and offered US Dollar
AUD/USD surged on weak US ISM Services data, which contracted to its lowest since 2020. The US economy added more jobs than estimated while wage growth eases, helping the Federal Reserve’s job to tame inflation. Fed policymakers reiterated the need to curb inflation, emphasizing that they will stay the course. The Australian Dollar (AUD) rallied […]
Forexlive Americas FX news wrap: ISM miss overshadows non-farm payrolls
Markets: Gold up $34 to $1867 US 10 year yields down 17 bps to 3.55% WTI crude oil flat at $73.67 S&P 500 up 95 points to 3924 NZD leads, USD lags We’re only four days into 2023 trading and we’ve already had some twists and turns, including some big ones today. The dollar was […]
EUR/USD breaks above 1.0600 on USD sell-off after weak ISM
US Dollar under pressure across the board amid risk appetite and falling yields. US: A weak ISM Service sector report follows larger than expected increase in NFP. EUR/USD having best day in a month, still down for the week. The EUR/USD jumped above 1.0600 amid a sharp reversal of the US Dollar that tumbled across […]
US dollar sinks on hard landing fears after ISM services survey plunges
The ISM services sector survey is one of the best forward looking indicators out there and today’s edition plunged to 49.6 from 56.5, far worse than the economist consensus of 55.0. Even worse, the forward-looking new orders component in the survey looks like this: ISM new orders Market participants are struggling with the idea of […]