US ISM Non-Manufacturing PMI Overview The Institute of Supply Management (ISM) will release the Non-Manufacturing Purchasing Managers’ Index (PMI), also known as the ISM Services PMI at 1400 GMT and the forecast for June stands at 58.3 points as compared to previous month’s reading of 58.6. Deviation impact on USD/JPY Readers can find FX Street’s proprietary deviation impact map of the event below. As observed the reaction in case of a relative deviation of +1.30 or -1.1 is likely to be in the range of 20-25 pips during the first 15-minutes and could stretch to around 45-50 pips in the subsequent 4-hours. How could affect USD/JPY? Currently holding with daily gains, comfortably above mid-110.00s, a better-than-expected print could assist the pair to aim back towards reclaiming the 111.00 handle before eventually darting towards May monthly tops resistance near the 111.40 region. Alternatively, the reaction to a negative reading is expected to remain muted ahead of today’s important release of the latest FOMC meeting minutes. Hence, any immediate downside is likely to find support near the 110.45 region, which if broken could accelerate the fall further towards the key 110.00 psychological mark en-route 55-day SMA support near the 109.85-80 region. Key Notes “¢ ADP + ISM Non-Manufacturing PMI Preview: last minute hints could raise expectations for Friday’s NFP “¢ USD/JPY spikes to fresh session tops, 111.00 mark back on sight “¢ US Dollar hits over 1-week low risks breaking below 94.00 handle About the US ISM non-manufacturing PMI The ISM Non-Manufacturing Index released by the Institute for Supply Management (ISM) shows business conditions in the US non-manufacturing sector. It is worth noting that services constitute the largest sector of the US economy and result above 50 should be seen as supportive for the USD. 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 World economy is doing fine, but not everything is rosy – Nordea Markets FX Street 3 years US ISM Non-Manufacturing PMI Overview The Institute of Supply Management (ISM) will release the Non-Manufacturing Purchasing Managers' Index (PMI), also known as the ISM Services PMI at 1400 GMT and the forecast for June stands at 58.3 points as compared to previous month's reading of 58.6. Deviation impact on USD/JPY Readers can find FX Street's proprietary deviation impact map of the event below. As observed the reaction in case of a relative deviation of +1.30 or -1.1 is likely to be in the range of 20-25 pips during the first 15-minutes and could stretch to around 45-50 pips in the… Top 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.
