US ISM Services PMI rises to 52.7 in November vs. 52 expected
|- US ISM Service PMI increases to 52.7 in November from 51.8 in October.
- Dollar slides after JOTLS report and ISM Service PMI.
Economic activity in the services sector expanded in November for the 11th consecutive month. The ISM Services PMI stood at 52.7, up from 51.8 in October and above market expectations of 52.0.
Further details of the publication revealed that the Business Activity Index registered 55.1 up from 54.1 in October. The Employment Index rose from 50.2 to 50.7. The Prices Index decline from 58.6 to 58.3.
A different report showed that the final reading of the S&P Global Service PMI stood at 50.8 in November, unchanged from the preliminary reading.
Market reaction
The US Dollar Index pulled back from the highest level in almost two weeks near 104.00, to 103.55, affected by the JOLTS report.
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.