Home ISM Non-Manufacturing PMI jumps to 59.3 points – USD
Forex News Today: Daily Trading News

ISM Non-Manufacturing PMI jumps to 59.3 points – USD

A significant positive surprise from the US services sector: a score of 59.3 points. The downside is that the employment component is actually down from 59.6 to 56.7 points. New orders are up to 61.4 points. Business activity is at 64.4 points.

USD is stronger  with EUR/USD getting closer to 1.23, and USD/JPY at 119..79, GBP/USD at 1.5684, AUD/USD at 0.8422, NZD/USD at 0.775 and USD/CAD at 1.1353. Update: EUR/USD  bounces from 1.23 for now.

In Canada, the BOC released its rate statement, which was relatively bullish, helping the Canadian dollar buck the dollar trend.

Earlier, Markit’s services PMI slid to 56.2 in the final number from 56.3 originally reported. Th employment component there is actually up to 54.1 from 53.2 in October.

The ISM Non-Manufacturing purchasing managers’ index was expected to hit 57.5 points in November after 57.1 in October. This is major indicator towards the BLS Non-Farm Payrolls on Friday. The employment component reached 58.2 points in October, the highest in over 3 years. New orders stood at 63.4 points.

The dollar  maintained its strength, especially against the euro, Aussie and the yen towards the publication.

Earlier, ADP NFP fell short of expectations with 208K. On the other hand, the ISM manufacturing PMI beat expectations.

Before the Non-Farm Payrolls, we have the all important decision by the European Central Bank. See  ECB Preview: A big step towards QE? 3 scenarios

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.