Fan Yang
All posts from Fan Yang
Fan Yang in Fan Yang,

US ISM Services PMI Improves Faster Than Forecast

Last week, we got US ISM Manufacturing PMI for April:
April: 54.9
March: 53.7.
Economists' forecasts were around 54.3.

US ISM Services PMI (or non-manufacturing PMI) for April came in today:
April: 55.2,
March: 53.1
Forecast: 54.3

New Orders surged, and overall activity rose the fastest since early 2008:

(source: Institute for Supply Management)

Manufacturing and services continue to improve in the recent months, but traders are not impressed, or rather, the market remains tentative in terms of USD-direction.

Yellen's testimony in front of the Joint Economic Committee of Congress in Washington DC will be most important USD-event risk this week.