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US Services PMI at 53.4%; January 2024 Services ISM Report On Business
Economic activity in the services sector expanded in January for the 13th consecutive month as the Services PMI® registered 53.4 percent, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The sector has grown in 43 of the last 44 months, with the lone contraction in December 2022. The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: "In January, the Services PMI® registered 53.4 percent, 2.9 percentage points higher than December's seasonally ... (full story)
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*US ISM SERVICES PRICES-PAID INDEX RISES TO NEAR ONE-YEAR HIGH
— Cable FX Macro (@cablefxmacro) February 5, 2024
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ISM nonmanufacturing PMI for January 53.4 versus 52.0 estimate
Prior month 50.5 • ISM nonmanufacturing PMI 53.4 versus 52.0 estimate • Nonmanufacturing business activity January 55.8 vs 55.8 last • Employment.50.5 vs 43.8 last month • New orders 55.0 vs 52.8 last month • Prices Paid 64.0 vs 57.4 last month. The US dollar has moved higher after the report with the EURUSD making a new session low at 1.0727. The GBPUSD is also making a new low trading down to 1.2527. The USDJPY is trading at 148.64 as it moves back toward the 148.80 resistance target area. In the US debt market, 10 year yield is trading up your 11 basis points at 4.142%. The two year yield is up nine ... (full story)