02:45 PM BST, United States - PMI Data for April (final):
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S&P Global Composite PMI: actual 50.6; forecast 51.2; previous 53.5;
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S&P Global Services PMI: actual 50.8; forecast 51.4; previous 54.4;
03:00 PM BST, United States - ISM Data for April:
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ISM Non-Manufacturing PMI: actual 51.6; forecast 50.2; previous 50.8;
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ISM Non-Manufacturing Prices: actual 65.1; forecast 61.4; previous 60.9;
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ISM Non-Manufacturing Employment: actual 49; forecast 47.1; previous 46.2;
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ISM Non-Manufacturing New Orders: actual 52.3; forecast 50.3; previous 50.4;
The services sector has reported very positive data, although a significant portion of the rebound is linked to anticipated price increases. However, improvement is also evident from a key perspective - new orders. Theoretically, the sector does not show promising employment prospects, though these outlooks are not being assessed as negatively as they were previously.
Earlier, the PMI index for services came in at 50.8, below the expected 51.4 (preliminary reading) and down from the previous level (for March) of 54.4.
The dollar is experiencing significant losses across the broad market today; however, immediately following this reading, we can observe a reduction in dollar selling pressure. The EURUSD pair dropped by as much as 20 pips after the release.
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