The services sector is still growing quite nicely, but a bit under expectations. The ISM Non-Manufacturing PMI scored 56.5 points, 0.1 below 56.6 seen in December and under 57 expected. New orders are down to 58.6 points and employment is up from 52.7 to 54.7 points. Prices are at 59.9, up from last time. Factory [...]
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The US jobs report, aka the Non-Farm Payrolls, provided a bit for everyone. On one hand, the jobs that were gained came out at 227K, better than predicted. On the other hand, wages came out at a big disappointment with 2.5% y/y, including a miss for January and downward revisions. EUR/USD chopped around quite erratically, but [...]
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The beat on the headline was not a huge surprise after the ADP number. 227K is the figure. However, the wages are a negative surprise. Year over year, wages are also disappointing, also due to downwards revisions. The number is only 2.5%, a big downfall. The unemployment rate is 4.8% but at least the participation rate is [...]
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