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.

Haresh Menghani FXStreet

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.

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Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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