3:04 PM · 3 March 2022

BREAKING: USD sees little reaction to weak ISM Services PMI report

The ISM Services PMI for the US fell to 56.50 in February from 59.9 in the previous month, well below analysts’ expectations of 61.0.
Factory orders data for January that was released simultaneously and showed better-than-expected readings.
New orders for US manufactured goods inched up to 1.4% January, following a upwardly revised 0.7% (previous -0.4% decline) in December and beating market forecasts of 0.7% increase.

EURUSD saw relatively small reaction to today’s data inflation release. The most popular currency pair continued to trade around 1.1080 level. Source: xStation5

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