US Greenback Evaluation & Information
- ISM Headline Beats, Employment Index Slows Barely
- FX Muted as Cross-JPY Holds Losses
ISM Headline Misses, Costs Paid Stays Elevated
US ISM Non-Manufacturing PMI for December rose to 62, lacking estimates of 66.9. In the meantime, the sub-components had been softer throughout the board with the brand new orders index all the way down to 61.5 from 69.7, costs paid ticked larger with a transfer to 82.5 vs 82.3 beforehand. Elsewhere, the employment index fell to 54.9 from 56.5, which is noteworthy given the looming NFP report, notably within the context of a slight beat within the ISM manufacturing PMI employment index and a stellar ADP jobs report. Nevertheless, as has been the case beforehand, the ADP report is a poor predictor for the NFP final result.
How Non Farm Payrolls Drives the US Greenback
ISM Surveys Slipping
S&P 500 Slumps because the Fed Alerts a Faster Return to Quantitative Tightening