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Dollar lifts as ISM services PMI slips to 54.9 in September

ISM data showed the Services PMI fell to 54.9 from 55.4, while the Prices Paid Index rose to 74.0 and the US Dollar Index pushed to about 102.6.

Reported · Written up by our desk · Major Pairs

Fresh US macro data pointed to cooling momentum in the services economy, with the Institute for Supply Management (ISM) Services PMI weakening to 54.9 in September from 55.4 in the prior month, according to FXStreet. The reading also came in below the prior estimate of 55.0.

FXStreet said inflation pressures in the ISM survey increased, with the Prices Paid Index edging higher to 74.0 from 72.6. Hiring conditions improved slightly, as the Employment Index ticked up to 50.1 from 47.8, while new business momentum softened, with the New Orders Index dropping to 59.8 from 60.9.

The report also linked the release to currency strength, noting the US dollar stayed well supported on Monday. FXStreet said the US Dollar Index, DXY, reached fresh highs near 102.6 at the start of the week.

Latest closeDollar index 102.12 ▼0.1%

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