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USD index slumps as weak ISM gifts AUD/USD its breakout ahead of NFP
A softer-than-expected ISM services report was the gift that Fed doves have been waiting for ahead of a key Nonfarm payroll report on Friday. It also made for a lively session on the eve of Independence Day, with liquidity expected to be much lower today heading into tomorrow’s employment data. chart At 48.8, the headline ISM figure was its fastest pace of contraction since the pandemic in May 2020. New orders also slumped to 47.3, its lowest point since the pandemic, employment contracted a slightly faster pace of 46.1 and prices were a touch lower at -1.8. With signs that the employment sector is deteriorating ... (full story)
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From bnnbloomberg.ca|Jul 3, 2024Federal Reserve officials said they were awaiting additional evidence that inflation is cooling and were divided on how long to keep interest rates elevated at their last policy ...
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- Posted: Jul 3, 2024 7:40pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 3,364
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