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ISM Non-Manufacturing PMI 55.2 in April – better than

ISM Non-Manufacturing PMI at 55.2 points on April 2014.  The US economy continues growing steadily according this number.  The ISM Non-Manufacturing  purchasing managers’ index for April was expected to show a rise from 53.1 to 54.1 points. This indicator  usually serves as a hint towards the NFP and this time stands on its own. The worrying part here is that the employment component dropped from 53.6 to 51.3 points.

Currencies traded steadily with EUR/USD at around 1.3875, GBP/USD at 1.6860 and USD/JPY was just above 102. Currencies are hardly moving on this slightly better than expected report.

New orders rose from 53.4 to 58.2 points and prices paid from 58.3 to 60.8 points. This is positive.

The Non-Farm Payrolls beat expectations with 288K. This initially helped the US dollar but after analysts began digging into the details of the report, markets changed course and the dollar fell.

Earlier, the  Markit final services PMI rose from 54.2 initially reported to 55 points, also above  expectations.

See how to trade the British services PMI with GBPUSD

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.