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ISM services PMI set for Thursday at 14:00 GMT

Consensus calls for an August reading of 54.3 versus 54.1 in July, which would support the view of resilient growth despite still-elevated inflation pressures.

Reported · Written up by our desk · Major Pairs

FXStreet points to Thursday’s ISM Services PMI as the next key US macro datapoint for currency traders, with the Institute for Supply Management set to publish its August services gauge at 14:00 GMT.

Consensus expects a marginal improvement to 54.3 from July’s 54.1. FXStreet notes that if the print matches expectations, it would likely confirm the economy’s resilience, though it may not materially move the US dollar.

The article highlights that July’s report showed mixed details, with the ISM Employment Index falling to 47.4 from 51.2, while New Orders rose to 57.2. At the same time, the Prices Paid Index increased to 70.3, reflecting strengthening inflation pressures that remain above the Federal Reserve’s 2% target.

FXStreet adds that a softer-than-expected outcome could prompt investors to trim USD exposure on concerns growth is losing momentum, while a stronger inflation profile remains a focus for rate-hike expectations. The note also discusses the near-term EUR/USD outlook, saying the outlook has deteriorated after the break below the 200-day SMA around 1.1630, with support areas near the 100-day SMA at about 1.1570 and minor support at 1.1511.

Latest closeEUR/USD 1.159 ▼0.1%

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