US: ISM Non-Manufacturing PMI drops to 53.7 in July, lowest since August 2016
|- US ISM Non-Manufacturing PMI falls short of market estimates in July.
- Greenback weakens modestly on disappointing data, DXY stays in red.
The Institute for Supply Management on Monday announced that the Non-Manufacturing PMI in July unexpectedly declined to 53.7 from 55.1 in June and worse than consensus estimates pointing to a rebound to 55.5.
The reading marked the lowest level since August 2016 and the initial market reaction turned out to be rather muted as the key focus remains on any fresh trade-related headlines.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.