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BREAKING: Flash US S&P PMI stronger than expected. USDIDX gains 0.5% 📈

3:46 PM 22 November 2024

US S&P Composite PMI Flash (November): 55.3 (Forecast 54.3, Previous 54.1)

  • US S&P Services PMI Flash: 57 (Forecast 55, Previous 55.0)
  • US S&P Manufacturing PMI Flash: 48.9 (Forecast 48.9, Previous 48.5)

US dollar (USDIDX) gains after the stronger than expected S&P PMI readings from the US, signalling further pressure on the Federal Reserve, which may hold interest rates unchanged in December, with smaller amount of rate cuts in 2025. Data points to a very strong services sector.

 

Source: Bloomberg Finance LP, S&P Global, ISM, XTB Research

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