Loading ...ISM Non-Manufacturing PMI may disappoint and weigh on the dollar – FXStreet Surprise Index
- The US ISM Non-Manufacturing PMI is a critical leading indicator.
- FXStreet’s Surprise Index points to a downside surprise.
- The US dollar may lose ground on the news.
Will the Federal Reserve cut interest rates in September? That is the main question currency traders are asking and the answer – as the Fed puts it – depends on the data. As the central bank tries to gauge future developments, ISM’s forward-looking Purchasing Managers’ Index for the services sector – America’s largest – is a critical figure.
FXStreet Surprise Index quantifies, in terms of standard deviations of data surprises (actual releases vs. survey median), the extent to which economic indicators exceed or fall short of consensus estimates.