- Services ISM rises unexpectedly in August.
- Indicators of new orders and employment are also recovering.
- The dollar strengthens after the report.
The ISM services sector index recorded a rise from 56.7 in July to 56.9 in August, which was surprising as a pullback to 55.1 was expected. The data made the dollar rise in the market.
Among the report’s indicators, a rise in el rate of new orders from 59.9 to 61.8 (consensus: 57) and an increase in employment from 49.1 to 50.2 (48.2). As for inflation, andl price paid index it went from 72.3 to 71.5, with a reading of 76.5 expected.
It had previously been known final reading of the S&P Global services PMI which was revised from 44.1 to 43.7.
The dollar rose in the market after the publication of the ISM, the main Wall Street indices marked new lows and metal prices as well. EUR/USD fell below 0.9900 and USD/JPY hit a new decade high above 143.00.
Source: Fx Street
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