US S&P Composite flash PMI reading (April) came in 50.9 vs 52 exp. and 52.1 previously
- Manufacturing PMI: 49.9 vs 52 exp. and 51.9 previously
- Services PMI: 50.9 vs 52 exp. and 51.7 previously
Markets reacted to the data with US dollar sell-off and buying spree on S&P 500 futures (US500) as lower than expected data from services signal still possible lower inflation pressure in the future.
Source: xStation5
Daily summary: Gold retreats 3% as US dollar rebounds after hawkish Warsh speech in Jackson Hole
๐ฉ EURUSD loses 0.3%
๐ฝ Fed chair, Kevin Warsh speech from Jackson Hole
Economic Calendar: All eyes on Kevin Warsh! Will Fed Chair protect his credibility?