US services activity picks up unexpectedly
The pace of growth in the US services sector rose unexpectedly in August, data showed on Tuesday. The numbers released by the Institute for Supply Management showed services activity snapped a 3-month slower growth streak.
ISM non-manufacturing PMI rose to 53.3 in August, versus consensus for a slowdown to 51.0 from 52.7 the previous month. ISM non-manufacturing business index fell slightly to 55.6 from 56.1, but beat consensus for a fall to 54.5.
The US dollar pared its gains after the better than expected numbers, as EUR/USD rose to 1.4090 from 1.4063.
RTFX Ltd (“RTFX”) is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX at the time of preparation. They are thus subject to change without notice. RTFX believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX or any director, officer or employee.
