USD: ISM services PMI slips to 54.9 vs 55.2 est as prices index rises to 74.0

The source reports no currency price move, pip figure or technical levels. The US ISM non-manufacturing (services) PMI for September came in at 54.9, below the 55.2 estimate and down from 55.4 in August. The services sector continued to expand, though at a slower pace. Business activity fell sharply to 56.5 from 61.7, and new orders eased to 59.8 from 60.9. New export orders contracted to 46.9 from 56.3, and imports slowed to 52.9 from 56.3. Employment edged back into expansion at 50.1 versus 47.8. The prices index rose to 74.0 from 72.6, which points to firmer cost pressures in the services sector. Supplier deliveries rose to 53.2 from 51.3, the backlog of orders increased to 56.6 from 55.6, and inventories climbed to 57.8 from 56.7. Inventory sentiment dipped to 51.7 from 54.1. For USD traders, the report is mixed. The headline miss and slower activity growth contrast with the higher prices reading and the return of employment to expansion territory, so the release gives no clear directional signal for the dollar on its own.