US: ISM non-manufacturing PMI rises to 60.1 in October from 59.8 in September

Eren Sengezer FXStreet

"The Non-Manufacturing ISM registered 60.1 percent, which is 0.3 percentage point higher than the September reading of 59.8 percent," reported the Institue for Supply Management on Friday.

Key highlights

This represents continued growth in the non-manufacturing sector at a slightly faster rate.

This is the highest NMI reading since the index’s debut in 2008.

The Non-Manufacturing Business Activity Index increased to 62.2 percent, 0.9 percentage point higher than the September reading of 61.3 percent.

The New Orders Index registered 62.8 percent, 0.2 percentage point lower than the reading of 63 percent in September.

The Employment Index increased 0.7 percentage point in October to 57.5 percent from the September reading of 56.8 percent.

The Prices Index decreased by 3.6 percentage points from the September reading of 66.3 percent to 62.7 percent, indicating prices increased in October for the fifth consecutive month.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

EUR/USD flat lines near 1.1800 as traders brace for US PPI release

The EUR/USD pair trades on a flat note near 1.1800 during the early Asian session on Friday. The pair steadies as softer Eurozone inflation offsets US tariff uncertainties. Traders await the preliminary reading of the Consumer Price Index from Germany on Friday for more clues about the pace of future policy easing. On the US front, the Producer Price Index report will be released.

GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold awaits acceptance above $5,200 and US PPI data

Gold consolidates previous rebound near $5,200 amid risk-off markets, awaiting US PPI release. The US Dollar eyes a flattish weekly close as dovish Fed outlook and tariff woes outweigh geopolitical risks. Gold yearns for acceptance above $5,200 to resume the uptrend, with a bullish RSI in play.

Top Crypto Gainers: Stable and Decred rally, Pippin approaches record highs

Altcoins, such as Stable, Decred, and Pippin, are extending gains so far this week, defying the risk-averse conditions in the broader cryptocurrency market. Stable and Pippin are near record high levels, while Decred extends its breakout rally above $30.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Bitcoin steadies as traders eye US–Iran talks

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Thursday after a 6.2% relief rally the previous day amid a broader downward trend.