USD weakens as ISM prices surge while jobs data disappoints
The US Dollar Index fell 0.4% as conflicting economic data created uncertainty about the Fed's policy path. ISM Services Prices Paid component jumped to 64.0, signaling persistent inflationary pressures, while employment indicators disappointed with ADP private payrolls missing expectations at 150K vs 180K forecast. This divergence has left markets uncertain, with USD/JPY dropping to 155.20 as the yen benefits from safe-haven flows. S&P 500 futures edged higher, suggesting risk appetite remains despite the mixed data. Traders are now focused on upcoming jobless claims data for clarity on labor market conditions. The conflicting signals - rising price pressures but weakening employment - complicate the Fed's decision-making process. Technical levels show USD Index support at 104.50, with resistance at 105.20. A weak jobless claims print could accelerate dollar selling toward 104.00.
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