USD Gains as ISM Services Index Beats at 50.8 vs 50.5 Expected
The US dollar strengthened after June ISM Services Index came in at 50.8, exceeding the 50.5 forecast and rebounding from May's contractionary 49.9 reading. New orders jumped to 51.3 from 46.7, signaling improved demand, while business activity rose to 54.2. However, employment weakened to 47.2 from 50.7, marking the lowest level since March. Prices paid eased slightly to 67.5 from 68.7, suggesting moderating inflationary pressures in the services sector. The return to expansionary territory (above 50) in the dominant services sector reinforces the narrative of US economic resilience, supporting dollar bulls. The mixed employment component may temper some enthusiasm, but overall the data supports maintaining current Fed policy expectations. Dollar strength is likely to persist near-term against major pairs.
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