US ISM Services PMI drops to 50.1 in July
Data from the Institute for Supply Management (ISM) showed the Services PMI receded to 50.1 in July, down from 50.8 in the previous month and falling behind analysts’ forecasts of 51.5.
Meanwhile, the Prices Paid Index—which tracks inflation—advanced to 69.9 from 67.5, the Employment Index ticked lower to 46.4 from 47.2, and the New Orders Index deflated to 50.3, from 51.3.
Market reaction
The Greenback maintains its upbeat performance on Tuesday, motivating the US Dollar Index (DXY) to add to Monday´s bounce and trade at shouting distance from the key 99.00 hurdle amid higher US yields across the curve.
Source: FXtsreet
