US Composite PMI: 51.4 (Expected: 51.9; Previous: 51.9)
- US Manufacturing PMI: 52.4 (Expected: 51.5; Previous: 51.6)
- US Services PMI: 51.1 (Expected: 52.0; Previous: 51.7)
The US PMI readings mirror trends observed in Europe: the manufacturing index came in well above expectations, while the services index underperformed forecasts. Given the dominant role of services in the US economy, the overall shift in sentiment appears negative, although the composite index remains above the 50 expansion threshold.
A potential driver behind the divergence between manufacturing and services could be the war in Iran, which may be supporting defense-related industrial activity while weighing on sectors such as tourism. US tourism may be further pressured by:
- Changes in the perception of the US as a travel destination,
- The ongoing crisis in US airspace administration.
Market reaction to the data remains limited, but EURUSD pair gains after the data.
Source: xStation5
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