ISM Services PMI unexpectedly falls to 62.7 in April

The ISM service sector index for April showed a decline from the March reading, falling from 63.7 a 62.7, being that the market consensus was for a rise to 64.3.

EThe non-manufacturing ISM employment indicator went from 57.2 to 58.8 (consensus: 55), while that of new orders fell back from 67.2 to 63.2 (56.6). The price index paid the sector climbed from 74 to 76.8.

Prior to this report, the final reading of the PMI Markit for services (revised up from 63.01 to 64.7) and the ADP employment report were known. On Thursday it will be the turn of the requests for unemployment benefits and on Friday of the official employment report for April.

The dollar in general it remained without major changes in the market. The DXY is trading modestly higher for the day, at the 91.30 area.

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