BREAKING: US services rise at record pace: ISM

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The ISM Services PMI for the US jumped to 69.1 in November from 66.7 in the previous month, breaking a fresh record high and beating analysts’ expectations of 65.0.

Details of the report:

new orders 69.7 versus 64.0 estimate. Last month 69.7
employment index 56.5 versus 52.2 estimate. Last month 51.6
prices paid 82.3 versus 80.9 estimate. Last month 82.9

Factory orders data for October that was released simultaneously also showed better-than-expected readings. New orders for US manufactured goods inched up to 1.0% October, following a upwardly revised 0.5% rise in September, beating market forecasts of 0.5% increase.

EURUSD pair fell after today's data release and is testing lower limit of the wedge formation and 200 SMA (red line). Should break lower occur, then support level at 1.1260 may be at risk. Source:xStation5

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