Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View More
Webinar: Live Event Coverage: US ISM Non-Manufacturing PMI

Webinar: Live Event Coverage: US ISM Non-Manufacturing PMI

Martin Essex, MSTA,

Talking Points

- The US ISM non-manufacturing PMI came in lower than expected.

- However, the release still suggested robust economic growth in the US.

- See the DailyFX Economic Calendar and see what live coverage for key event risk impacting FX markets is scheduled for the week on the DailyFX Webinar Calendar.

The Institute for Supply Management’s purchasing managers’ index for the non-manufacturing sectors of the US economy in March came in at 55.2, below both the predicted 57.0 and the previous month’s 57.6. That followed the equivalent manufacturing report released earlier this week, which also suggested a slowdown in March.

Nonetheless, taken together, the numbers still imply only a modest setback in the first quarter and an economy still growing robustly. That, in turn, implies that the rate-setting Federal Open Market Committee is still on course to increase rates several times this year, to the benefit of the US Dollar. Moreover, the US labor market remains unusually strong, judging by the latest ADP National Employment Report released ahead of Friday’s official non-farm payrolls data.

--- Written by Martin Essex, Analyst and Editor

To contact Martin, email him at martin.essex@ig.com

Follow Martin on Twitter @MartinSEssex

Don't trade FX but want to learn more? Read the DailyFX Trading Guides

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

DISCLOSURES