US ISM Services PMI Actual 53.6 (Forecast 53.7, Previous 54.0)
- US ISM Services Prices Paid Actual 70.7 (Forecast 73.5, Previous 70.7)
- US ISM Services Employment Actual 48 (Forecast 48.3, Previous 45.2)
- US ISM Services New Orders Actual 53.5 (Forecast 57.3, Previous 60.6)
The EURUSD currency pair ticks up after slightly dovish FED data.
Source: xStation
Macroeconomic data from the U.S. released this afternoon painted a mixed, though generally positive, picture of the state of the U.S. economy. New home sales in March surprised significantly on the upside, reaching 682,000 units against an estimated 652,000, marking a 7.4% month-over-month increase following a sharp 17.6% decline in February. This strong rebound suggests that the housing market is showing some resilience despite persistently high interest rates. Meanwhile, the ISM index for the services sector in April stood at 53.6 points, slightly below March’s 54.0 points and the consensus estimate of 53.7 points, but still well above the 50-point threshold separating expansion from contraction. The new orders component may be cause for concern, as it fell to 53.5 points against expectations of 57.3 points, which may signal some slowing of demand in the coming months. March JOLTS data showed 6.866 million job openings, slightly above estimates (6.835 million), indicating a still-solid, though gradually cooling, labor market.
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