No real surprises in the US services sector report: the PMI slips to 56.9 against 57 expected, basically as expected. Factory orders drop 0.2%, exactly as predicted and with an upwards revision for the previous month, from 0.5% to 1%. Currencies are stable in the aftermath. The US ISM Non-Manufacturing PMI was expected to tick [...]
The post ISM Non-Manufacturing PMI at 56.9 within expectations appeared first on Forex Crunch.
We start with the US labor market which is slowing down and may not be enough for a rate hike. We then cross the Atlantic to the UK’s June 8th elections, where the Labour Party made a surprising comeback. We finish off with a preview for a busy week that also includes the ECB. You [...]
The post US labor market and UK’s Labour comeback – MM #147 appeared first on Forex Crunch.
A slightly worse than expected print on Britain’s Services PMI: a score of 53.8 points, reflecting weaker growth. GBP/USD dipped to 1.2860, a quick loss of 20 pips, before bouncing and recovering some of its losses. Markit’s purchasing managers’ index for the services sector was expected to slip from 55.8 to 55 points in May. The [...]
The post UK Services PMI misses with 53.8 – GBP slides appeared first on Forex Crunch.
