Time: 12:45 pm GMT, Morocco time: 1:45 hours, Egypt time: 3:45 hours, Saudi time: 4:45 hours, Emirates time: 5:45 hours
Previous: 51.7 Expected: 52.0 Actual: 50.9
US Flash Services PMI
Flash Services PMI’ Index (PMI) is an economic indicator used to assess service sector activity in the United States. The index is calculated by conducting a monthly survey of managers in service companies in the United States. The survey is evaluated on the basis of several indicators that include demand, production, employment, supply, prices and other variables related to the services sector in the country.
Flash Services PMI’ Index (PMI) aims to provide a comprehensive picture of the state of the US economy by providing information about the activity of the service sector, which is one of the vital sectors of the US economy. Flash Services PMI’ Index (PMI) can be used as a tool for forecasting economic growth and making appropriate investment decisions..
If the monthly release of the US services PMI is lower than expected, it indicates slower growth in the US services sector than expected. This slowdown could be accompanied by a decrease in the volume of demand for services and a decrease in the volume of production and employment in the services sector in France, which indicates weakness in the US economy. On this basis, this decline in the services PMI in the United States may reduce the appetite for the US currency in the foreign exchange market, which leads to a decrease in its value against other currencies.
A decline in the services PMI in the US indicates a decline in the performance of the services sector in the country, and could lead to a lack of confidence in the US economy in general. It could also lead to a decline in investment in the service sector in America, and thus could limit the growth of the US economy.
The decline in the PMI service purchasing managers’ index in the United States indicates weakness in the US economy, and may lead to a decline in the country’s economic growth, and a decline in investments, jobs and productivity in the services sector. In general, a decline in the services PMI in the United States could affect confidence in the US economy and the performance of the financial markets and the foreign exchange market.
How does the release of the Flash Services PMI affect dollar trading in the forex market?
The release of the US services PMI affects the dollar’s trading in the forex market significantly. When there is a release of the Services Purchasing Managers’ Index (PMI) in France, forex traders look at the details of this release to assess its performance and impact on the US economy and the dollar.
If the monthly release of the US services PMI is higher than expected, this indicates better growth of the services sector in the US than expected. This may increase the demand for the dollar in the forex market, as investors and traders respond by increasing the demand for the dollar. On this basis, a positive release of Flash Services PMI’ Index (PMI) could lead to an appreciation of the dollar against other currencies in the forex market.
On the other hand, if the monthly release of the US services PMI is lower than expected, this indicates a decline in the performance of the services sector in the US more than expected. This may lead to a decline in demand for the dollar in the forex market, as investors and traders sell the dollar and buy other currencies instead. Thus, this downturn in the US services PMI could lead to a depreciation of the dollar against other currencies in the forex market.
The agency responsible for issuing the Flash Services PMI in the United States
The US Services PMI is produced by IHS Markit, a leading global provider of economic and financial data and analysis. The index is released monthly.
The release date of Flash Services PMI’ Index
Released monthly, approximately 3 weeks after the current month;
Next release
May 23, 2024
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