On February 5, 2025, the Institute for Supply Management released ISM Services PMI report for January. The report indicated that ISM Services PMI declined from 54.1 in December to 52.8 in January, compared to analyst consensus of 54.3. Numbers above 50 show expansion.
The Institute for Supply Management commented: “January was the second month in a row with all four subindexes that directly factor into the Services PMI – Business Activity, New Orders, Employment and Supplier Deliveries – in expansion territory.”
Today, traders also had a chance to take a look at the final reading of S&P Global Services PMI report for January. The report showed that S&P Global Services PMI declined from 56.8 in December to 52.9 in January, compared to analyst forecast of 52.8.
The better-than-expected S&P Global Services PMI provided support to S&P Global Composite PMI, which declined from 55.4 to 52.7. This report has also exceeded analyst expectations.
U.S. Dollar Index tested new lows as traders reacted to PMI data. Currently, U.S. Dollar Index is trying to settle below the 107.40 level.
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