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Mixed US August flash PMI sees services really outperform- USD/JPY edges higher
That US PMI data has just now hit the street and once again the data is mixed, with a significant beat on the service sector but a more modest loss on Manufacturing. The contrast between the two is quite stark though and the take away from this data is positive such is the beat on services, which has lifted the composite index well above forecasts.
As we just noted a minute or two ago, the dollar was on the rebound leading into this data and the US currency was being supported by a modest rebound in US yields, especially the USD/JPY, which has been tracking that data closely today. So, the USD/JPY is a little higher following the release of this data. US yields are a little higher too. The USD/JPY is right now ay 158.87
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Mixed US August flash PMI sees services really outperform- USD/JPY edges higher
That US PMI data has just now hit the street and once again the data is mixed, with a significant beat on the service sector but a more modest loss on...
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