USD reacts to ISM Services PMI

Source: Dukascopy Bank SA


On Thursday, at 17:00 GMT the US ISM Services PMI caused US Dollar volatility, as immediately after the release of the worse than forecast data USD dropped and recovered.

The EUR/USD increased its volatility to 16 base points or 0.14%.

The Purchasing Managers Index survey results came in at 62.0 points instead of the forecast 67.0 points. In theory, the data revealed that the US business managers expect lower recovery rates in the future instead of what was previously assumed. Due to that reason, the USD value should decline, as there would be less demand for it.
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