U.S. data

• ISM Non-manufacturing employment index (oct), fact 53.7, previous value 50.4.
• ISM Non-Manufacturing Business Activity Index (PMI) (oct), fact 54.7, forecast 53.5.
• JOLTS job openings (September), fact 7.024M, forecast 7.028M.

Despite the mixed data on the USA, it is worth to note business activity in the non-manufacturing sector (PMI) from ISM USA, which has grown, exceeding all market expectations and slowing down the annual downward dynamic.

Fig. 1. Non-Manufacturing PMI Business Chart by ISM USA

In addition to growing business activity in the non-manufacturing sector of the United States, these statistics also reduced market concerns about a slowdown in the US economy. This provided significant support for the US currency and reduced the possibility of stimulating the US economy in the future. As a result, the US dollar index gained a support, breaking through the resistance at 97.80 and closely approaching 98.00. At the same time, the further growth of the American dollar remains limited by overbought and psychological mark of 98.00.

Fig. 2. The US dollar index chart. Current price – 97.90 (10-year US government bonds yield – blue line)

Read also: “The pound is growing on Johnson’s failures”

Hanzenko Anton

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