US services ISM index for July was released at 3:00 pm BST today. Market expected report to show a headline index dropping from 53.9 in June to 53.0 in July. Actual data showed headline index dropping to 52.7 instead. Drop was driven by decline of Employment subindex primarily as Prices Paid index improved and New Orders index dropped slightly.
Apart from ISM data, factors orders as well as revisions of durable goods orders for June were released simultaneously. Durable goods orders were revised slightly lower while factory orders showed a minor beat.
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Create account Try a demo Download mobile app Download mobile appMarket reaction to the data was muted - USD ticked lower with EURUSD moving around 0.1% higher in the first 5 minutes following the release. Indices gained with US500 moving almost 0.2% higher before giving back part of gains.
Services ISM for July: 52.7 vs 53.0 expected (53.9 previously)
- Prices Paid: 56.8 vs 54.1 previously
- New Orders: 55.0 vs 55.5 previously
- Employment: 50.7 vs 53.1 previously
Factory orders for June: 2.3% MoM vs 2.2% MoM expected (0.3% MoM previously)
Durable goods orders for June (final):
- Headline: 4.6% MoM vs 4.7% MoM in first release
- Ex-transportation: 0.5% MoM vs 0.6% MoM in first release
US500 at 5-minute interval. Source: xStation5
