ISM Services Index – USA
- ISM Services Index: 54,6 forecast 55.2; previously 55.6
Why are these data important?
The ISM Services Index is one of the key indicators used to assess the health of the services sector in the United States, which accounts for the vast majority of US economic activity. The report is based on surveys conducted among purchasing managers and shows whether businesses are experiencing improving or deteriorating operating conditions.
The most important components of the report are the employment and prices paid indexes. The employment index provides insight into labor market conditions and can offer additional signals ahead of official employment reports. Meanwhile, the prices paid index measures cost pressures in the services sector and serves as an important indicator of the future inflation outlook.
The ISM Services report can have a significant impact on financial markets. A stronger-than-expected reading, especially alongside elevated price pressures, could support the US dollar and push bond yields higher as investors may expect the Federal Reserve (Fed) to maintain higher interest rates for longer. On the other hand, weaker data could weigh on the dollar, support equity markets, and increase expectations for earlier rate cuts.
Source: xStation5
US Open: Wall Street Starts September Under Pressure as Oil Returns to the Spotlight
Global bond market sell off
Gold Drops 1.5% 🚩 Are Precious Metals Heading Lower Again?
BREAKING: Eurozone Inflation Comes In Below Forecasts, Unemployment Rises. EURUSD reacts
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
