BREAKING: Much weaker US ISM reading!

The US economy is clearly taking a turn for the worse. The ISM index for services falls to 51.2 points with an expectation of 54.5 and the previous level of 55.1.

Non-manufacturing ISM for May and US factory orders for April

Non-Manufacturing Index, actual 50.3 points (expected:52.3, previous: 51.9)
Employment: 49.2 (previous: 50.8)
Prices: 56.2 (previous: 59.6)

EURUSD ticks higher following the publication of ISM and durable goods orders. After the publication, markets assess lower chances of the next rate hike by the FED, indicating a weaker US economy.

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