US: ISM Services PMI falls to 56.5 in February versus 61.0 expected
|The headline ISM Services PMI figure fell to 56.5 in February from 59.9 in January, well below the expected rise to 61.0, according to the latest release by the Institute for Supply Management.
Subindices:
- Business Activity fell to 55.1 from 59.9 in January.
- Prices Paid rose to 83.1 from 82.3.
- New Orders fell to 56.1 from 61.7.
- Employment fell to 48.5 from 52.3.
Market Reaction
The Dollar Index (DXY) was choppy in wake of the latest broadly downbeat ISM Services PMI survey but did not really see a lasting reaction in either direction and continues to trade well supported near multi-month highs in the 97.60 area. Geopolitics remains in focus and continues to underpin demand for safe-haven currencies like the US dollar.
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.