BREAKING: USD gains after PMI beat

Flash PMI indices from the United States for October were published at 2:45 pm BST today. Report was expected to show a deterioration in manufacturing and services sectors compared to September's data. Moreover, services index was expected to drop below 50 pts expansion-contraction threshold.

Actual report turned out to be a positive surprise with both indices beating expectations. US manufacturing and services sectors are back in expansion territory following data for October. USD gained following the release with EURUSD testing the 1.06 area. US equity indices dropped with US500 dropping around 0.2% in a knee-jerk move.

US, PMI indices for October

Manufacturing: 50.0 vs 49.5 expected (49.8 previously)
Services: 50.9 vs 49.9 expected (50.1 previously)
Composite: 51.0 vs 50.2 previously

Source: xStation5

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