The economic activity in the US private sector expanded at a more robust pace in January than it did in December with the IHS Markit’s Composite PMI rising to 53.3 from 52.7. This reading came in better than the market expectation and the flash estimate of 53.1. Furthermore, the Services PMI advanced to 53.4 in January from 52.8 in December. Commenting on the data, “the PMI data indicate that the US economy is ticking along at a steady but unspectacular annualized rate of growth of approximately 2% at the start of 2020,” said Chris Williamson, Chief Business Economist at IHS Markit. “Growth has gained some momentum from the lows seen in the fall as the service sector enjoys stronger growth and manufacturing has also shown signs of the trade-led downturn easing. USD reaction The US Dollar Index, which tracks the greenback’s value against a basket of six major currencies, extended its rally and was last up 0.36% on the day at 98.30. 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 Canada: Domestic growth trends are slowing – RBC FX Street 2 years The economic activity in the US private sector expanded at a more robust pace in January than it did in December with the IHS Markit's Composite PMI rising to 53.3 from 52.7. This reading came in better than the market expectation and the flash estimate of 53.1. Furthermore, the Services PMI advanced to 53.4 in January from 52.8 in December. Commenting on the data, "the PMI data indicate that the US economy is ticking along at a steady but unspectacular annualized rate of growth of approximately 2% at the start of 2020," said Chris Williamson, Chief Business Economist at IHS Markit. "Growth… 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.
