US: ISM Services PMI falls less than expected in September to 56.7

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The ISM Services PMI Index had a smaller than expected fall in September from 56.9 to 56.7, while a reading of 56 was expected. Most of the indicators in the report showed figures better than those of the market consensus.

index job of the non-manufacturing ISM went from 50.2 to 53 (consensus: 49.6), that of new orders fell from 61.8 to 60.6 (58.9), while that of prices paid dropped from 71.5 to 68.7 (69.8).

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The data showed that activity remains firm in the service sector and less pressure on prices is seen.

The dollar had a rise after the report and marked daily highs. EUR/USD accelerated below 0.9900 and GBP/USD towards 1.1250. Metals also extended the decline.

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Prior to this report, the final reading of the S&P Global Services PMI and the ADP Private Sector Employment report had been released. On Thursday it will be the turn of the requests for unemployment benefits and on Friday of the official employment report with non-farm payrolls expected to show an increase of 250,000 in September.

Source: Fx Street

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