The headline ISM Services Purchasing Manager's Index (PMI) fell to 55.9 in May from 57.1 in April versus expectations for a slightly smaller decline to 56.4, according to the latest release by the Institute for Supply Management (ISM).
Subindices:
The Business Activity Index fell to 54.5 from 59.1 in April.
The Employment Index fell to 50.2 from 49.5 in April.
The New Orders Index rose to 57.6 from 54.6.
The Prices Paid Index fell to 82.1 from 84.6.
Market Reaction
FX markets did not seem to react to the latest ISM data, as investors continue to digest the ramifications of the earlier official US jobs report.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD stays defensive below 1.0550 amid a cautious start to the week
EUR/USD stays defensive below 1.0550 in Monday’s European morning. The pair remains undermined by the re-emergence of the Russia-Ukraine geopolitical risks even though the US Dollar stalls its uptrend. Divergent ECB-Fed policy outlooks also weigh on the pair ahead of central banks' talks.
GBP/USD defends 1.2600 on subdued US Dollar
GBP/USD defends minor bids above 1.2600 in the early European session on Monday. A broadly subdued US Dollar and less dovish BoE policy outlook support the pair amid cautious market mood, induced by resurfacing Russia-Ukraine conflict. BoE- and Fed-speak eyed.
Gold price sticks to modest gains below $2,600 amid geopolitical risks
Gold price gains some positive traction but stays below $2,600 early Monday, snapping a six-day losing streak. Russia-Ukraine geopolitical risks benefit the safe-haven metal amid a subdued US Dollar demand. Bets for less aggressive Fed rate cuts and elevated US bond yields cap further gains.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC consolidates after a new all-time high
Bitcoin (BTC) price remains in a consolidation phase after reaching a new all-time high of $93,265 last week. Ethereum's (ETH) price is nearing its support level; a close below would cause a further price decline, while Ripple's (XRP) price shows bullish momentum as it tests and potentially breaks key resistance.
Week ahead: Preliminary November PMIs to catch the market’s attention
With the dust from the US elections slowly settling down, the week is about to reach its end and we have a look at what next week’s calendar has in store for the markets. On the monetary front, a number of policymakers from various central banks are scheduled to speak.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.