US ISM Non-Manufacturing PMI above expectations

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The ISM Non-Manufacturing PMI for the US jumped to 57.20 in December from 55.9 in the previous month, beating analysts’ expectations of 54.5. Today's report showed the strongest growth in the services sector in 3 months. "Respondents’ comments are mixed about business conditions and the economy. Various local- and state-level COVID-19 shutdowns continue to negatively impact companies and industries. Applicable human resources, production capacity and logistics have been more constrained than during the previous month. Most respondents are cautiously optimistic about business conditions with the recent approval and impending distribution of vaccines,” Anthony Nieves, Chair of the ISM said.

EURUSD - pair broke below the 200 SMA (red line) after today's data releases and is heading towards the next support level at 1.2240. Source:xStation5

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