The ISM Services PMI for the US rose slightly to 56.9 in August from 56.7 in the previous month, beating analysts’ expectations of 55.1 and pointing to the strongest growth in services activity in four months. Business activity (60.9 vs 59.9) and new orders (61.8 vs 59.9) expanded faster. Also, employment (50.2 vs 49.1) rebounded despite a restricted labor market rebounded while prices rose at a slower pace (71.5 vs 72.3).
EURUSD is trading lower today and today’s data provided more fuel for bears. The main currency pair broke below support zone in the 0.9880 area. Source: xStation
