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Stock Markets Maintain Losses as US ISM Misses Expectations

Stock Markets Maintain Losses as US ISM Misses Expectations

Justin McQueen, Strategist

US Dollar Analysis & News

  • ISM Headline Beats, Employment Index Slows Slightly
  • FX Muted as Cross-JPY Holds Losses

ISM Headline Misses, Prices Paid Remains Elevated

US ISM Non-Manufacturing PMI for December rose to 62, missing estimates of 66.9. Meanwhile, the sub-components were softer across the board with the new orders index down to 61.5 from 69.7, prices paid ticked higher with a move to 82.5 vs 82.3 previously. Elsewhere, the employment index fell to 54.9 from 56.5, which is noteworthy given the looming NFP report, particularly in the context of a slight beat in the ISM manufacturing PMI employment index and a stellar ADP jobs report. However, as has been the case previously, the ADP report is a poor predictor for the NFP outcome.

How Non Farm Payrolls Drives the US Dollar

ISM Surveys Slipping

Stock Markets Maintain Losses as US ISM Misses Expectations

DailyFX Calendar

Stock Markets Maintain Losses as US ISM Misses Expectations

Source: DailyFX

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S&P 500 Slumps as the Fed Signals a Quicker Return to Quantitative Tightening

https://www.dailyfx.com/economic-calendar

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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