Two closely watch US reports were released today at 3:00 pm GMT - ISM services index for November as well as JOLTS report on jobs openings for October. ISM index was expected to improve slightly compared to October, while JOLTS reports was expected to show a decrease in job openings in October.
Actual data showed higher-than-expected ISM reading, with New Orders and Prices Paid subindices driving the beat. Employment subindex missed expectations but still increased compared to October's data. JOLTS data turned out to be a big surprise with number of job openings slumping from 9.55 to 8.73 million.
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Create account Try a demo Download mobile app Download mobile app- ISM services (November): 52.7 vs 52.0 expected (51.8 previously)
- New orders: 55.5 vs 54.9 expected (55.5 previously)
- Employment: 50.7 vs 51.4 expected (50.2 previously)
- Prices Paid: 58.3 vs 58.0 expected (58.6 previously)
- JOLTS report (October): 8.733 million vs 9.3 million expected (9.55 million previously)
USD dropped following the release with EURUSD jumping around 0.2%, from 1.0810 to 1.0830. Precious metals caught a bid amid USD weakening with GOLD climbing back above $2,020 per ounce. Equity indices also moved higher.
Source: xStation5
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