RSS US S&P Global services PMI 58.5 vs 55.7 expected

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 RSS US S&P Global services PMI 58.5 vs 55.7 expected

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  • Prior was 56.1
  • Composite PMI rises to 56.6 vs 54.9 prior (33-month high)
  • Services PMI jumps to 58.5 vs 56.1 prior (38-month high)
  • Manufacturing PMI falls to 48.3 vs 49.7 prior (3-month low)

On inflation:

  • Overall price pressures cooled further
  • but manufacturing saw a spike in input costs to 2-year highs
  • Service sector inflation at 4.5 year low
  • Supplier delivery times lengthening again

USD/JPY is up a handful of pips on this and the US dollar is broadly stronger.

This article was written by Adam Button at www.forexlive.com.
 
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