USD ticked higher following the release of the US ISM services index for June. Index came in much better than expected, rising from 50.3 to 53.9 (exp. 51.0). Subindices look promising with employment subindex climbing back above 50.0 threshold, new orders subindex rising noticeably and prices subindex weakening. Job openings data for May turned out to be slightly lower than expected.
Overall, data released at 3:00 pm BST can be considered hawkish and this is the reaction of the market we are observing. EURUSD dropped slightly while US500 deepened declines and reached a new daily low near 4,430 pts area.
ISM services index for June: 53.9 vs 51.0 expected (50.3 previously)
- Employment: 53.1 vs 49.2 previously
- Prices Paid: 54.1 vs 56.2 previously
- New Orders: 55.5 vs 52.9 previously
JOLTS job opening for May: 9824k vs 9900k expected (10103k previously)
EURUSD ticked lower following services ISM data release. Source: xStation5
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