What goes up must come down – that adage has been relevant to the ISM Services Purchasing Managers' Index (PMI) in the past six months, with data zigz
agging between beats and misses. Even if this forward-looking indicator misses estimates in the release for September, any US Dollar selling will likely be temporary.ISM Services PMI recent developments and market impact
In recent months, Federal Reserve officials have been beating the drum of data dependency – and investors have been reacting to every economic figure, whether it is hard data or soft data, such as the ISM Services PMI survey. If the pattern fails to hold and ISM Services PMI beats estimates, the trend of US Dollar strength will likely extend. The economy is doing well, and investors fear the Federal Reserve's hawkish intentions. selling. Unless America's largest sector slips into contraction according to this indicator, any dip in the Greenback could prove a buying opportunity. The world's largest economy leads a globe that is struggling to expand.
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