- Business activity in the service sector expands at a softer rate than expected.
- US Dollar Index lost its traction after the disappointing data.
The Institue for Supply Management (ISM) in its latest Non-Manufacturing Purchasing Managers' Index (PMI) dropped to 52.6 in September from 56.4 in August and fell short of the market expectation of 55.
With the initial market reaction, the Greenback came under strong selling pressure. As of writing, the US Dollar Index was down 0.3% on the day at 98.72.
"The non-manufacturing sector pulled back after reflecting strong growth in August. The respondents are mostly concerned about tariffs, labor resources and the direction of the economy,” the ISM's publication read.
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.