BREAKING: EURUSD plunges after ISM Services PMI report

The ISM Services PMI for the US fell to 55.1 in February from 55.2 in the previous month, above analysts’ expectations of 54.5. 

• employment index 54.0 versus 49.8 expected. Prior 50.0 (optimistic in terms of next week's NFP report)

• new orders index 62.6 versus 58.5 expected. Prior 60.4

• prices paid index 65.6 versus 64.5 expected. Prior 67.8 - still clearly above 50.0 pts

• new export orders 61.7 versus 59.0 last month

• imports 52.6 versus 53.0 last month

• backlog of orders 52.8 versus 52.9 last month

• inventories 50.6 versus 49.2 last month

• supplier deliveries 47.6 versus 50.0 last month

• inventory sentiment 55.3 versus 55.8 last month

Details of latest ISM report. Source: ISM

Earlier S&P Global Services PMI for the US was revised higher to 50.6  in February from a preliminary estimate of 50.5.

Both services indexes returned to the expansion area last month. Source: Bloomberg via ZeroHedge

Fresh data point to improving business activity at private sector, which reinforces bets that FED will stick to its aggressive path.

EURUSD  fell slightly after today's ISM data. The pair again moves towards 1.0600 level. Source: xStation5