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FX Street says ISM Services and labor data will drive US week focus

TD Securities expects ISM Services to slip to 54.0 from 55.0 consensus, with UMich sentiment easing to 47.5.

Reported · Written up by our desk · Major Pairs

FXStreet highlights the upcoming US data week as relatively quiet but eventful for markets, with attention on ISM Services, jobless claims, and a University of Michigan sentiment read. The outlet also points to TD Securities' view that the calendar will shape expectations around the labor market.

According to TD Securities, ISM Services is likely to fall to 54.0 versus 55.0 consensus. The firm also projects modestly higher Jobless Claims and a small decline in UMich Sentiment to 47.5.

TD Securities notes that September payrolls moderated mainly due to seasonal factors, even as it sees underlying labor-market strength and rising participation supporting a still-resilient backdrop.

The firm expects ISM Services to reverse its unexpected August gain, lowering to below-consensus levels, and says prices paid could also draw attention after rising for the past two months.

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