Markit Composite PMI prints 49.6 (final) in February as expected. US Dollar Index stays in positive territory near mid-97s. The economic activity in the US’ private sector contracted at a modest pace in February with the IHS Markit’s Composite PMI falling to 49.6 (final) from 53.3 in January. This reading matched the previous estimate and the market expectation. Further details of the report showed that the Services PMI slumped to 49.4, as expected, from 53.4. Commenting on the data, “political and economic uncertainty, the coronavirus outbreak and financial market turmoil all risk building into a cocktail of risk aversion that has severely heightened downside risks to the economy in coming months,” said Chris Williamson, Chief Business Economist at IHS Markit. “Much will depend of course on the speed with which the virus can be contained and how quickly business can return to normal.” USD reaction The US Dollar Index largely ignored this comment and was last up 0.38% on the day at 97.52. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Dollar Index pushes higher and tests 97.60 ahead of US ISM FX Street 3 years Markit Composite PMI prints 49.6 (final) in February as expected. US Dollar Index stays in positive territory near mid-97s. The economic activity in the US' private sector contracted at a modest pace in February with the IHS Markit's Composite PMI falling to 49.6 (final) from 53.3 in January. This reading matched the previous estimate and the market expectation. Further details of the report showed that the Services PMI slumped to 49.4, as expected, from 53.4. Commenting on the data, "political and economic uncertainty, the coronavirus outbreak and financial market turmoil all risk building into a cocktail of risk aversion that… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
