US ISM services report for July came in 51.4 vs 51 exp. and 48,8 previously
- US ISM Services Prices Paid Actual 57 (Forecast 55.1, Previous 56.3)
- US ISM Services Employment Actual 51.1 (Forecast 46.4, Previous 46.1)
- US ISM Services New Orders Actual 52.4 (Forecast 49.8, Previous 47.3)
The US data mix signals that US manufacturing is cooling in the fastest pace than services. Recession fears weakened after ISM July report. Wall Street indices trim early loses. According to S&P PMI data US employment increased for the second month running, albeit modestly and to a lesser extent than in June.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app- Also, S&P chief Economist Williamson told that the PMI surveys bring encouraging news of a welcome combination of solid economic growth and cooler selling price inflation in July. US PMI reading, published 15 minutes before ISM report, came in 55 vs 56 exp. in line with 56 in June.
- On the other hand, much higher than expected prices index (57 points) in ISM report today, signal some persisting inflation risk and if the economy weakens it's definitely not the good sign for markets. The Federal Reserve still has some arguments to avoid any 'emerging cuts'
Source: xStation5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
