ISM Non-Manufacturing PMI Data Reveals Contractions in US Economy and Impact on Markets

Investing.com – Important US data has now been released that should clarify the path of interest going forward, especially after the surprise employment data released on Friday.

Now the ISM’s non-manufacturing PMI data is out of line with experts’ expectations, stating that the economy is contracting as the Fed wants. To reduce its gains now and on its way to turn downward, while it changed its direction towards upwards after it was on a downward path.

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Purchasing managers data

It scored 50.3 points, while experts expected it to score 51.8 points, while it scored 51.9 points in the previous reading.

While it recorded 54.3 points, while expectations indicated that it would score 54.5 points, while the previous reading recorded 53.4 points.

As for it, it recorded 54.9 points, while expectations indicated that it would score 55.1 points, while the previous reading recorded 53.6 points.

On the other hand, it recorded an increase of 0.4%, while expectations indicated an increase of 1.1%, while the previous reading recorded 0.9%, but it was revised to 0.6%.

Gold and the dollar now

It rose by 0.35% to $1,976 an ounce.

While spot contracts rose 0.6% to $1,960 an ounce.

On the other hand, the dollar index fell by 0.05% to 103,910 points.