US ISM Services (prelim for November) came in 52.1 vs 55.7 exp. and 56 previously
- ISM Prices Paid: 58.2 (Forecast 57, Previous 58.1)
- ISM Employment 51.5 (Forecast 53, Previous 53.0)
- ISM New Orders: 53.7 (Forecast 56.6, Previous 57.4)
US factory orders rose 0.2% MoM vs 0.2% exp. and 0.5% previously
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Previously published S&P Service PMI (Final for November) came in also weaker (but still high) at 56.1 vs 57 previously and Composite PMI at 54.9 vs 55.3 previously. S&P pointed to positive business activity and new orders. However, usually more important ISM report signals something different and a little 'cooling off' in services sector across the US companies. The US dollar (USDIDX) loses after weaker than expected ISM report, with high and elevated price pressure in 'prices paid' subindex. Also, US500 slipped in the first reaction to the ISM Report.
Source: xStation5
