Services sector indicators from both Markit Economics and Institute for Supply Management were weak today. This lead for a drop by more than 1 percent of the US dollar versus the euro. Even strong US employment data was unable to rescue the greenback.
ADP employment grew by 205k in January, exceeding analysts’ projections of 193k. The December increase was revised from 257k to 267k. (Event A on the chart.)
Markit services PMI slid from 54.3 in December to 53.2 in January. Both the median experts’ forecast and the preliminary estimate were pointing at 53.7 as a likely reading. (Event B on the chart.)
ISM services PMI dropped from 55.8% to 53.5% in January, falling below the predicted level of 55.1%. (Event C on the chart.)
US crude oil inventories expanded by 7.8 million last week, staying near the record levels for this time of year. The average prediction of specialists was promising a smaller increase by 3.7 million. The stockpiles grew by 8.4 million the week before. Total motor gasoline inventories gained by 5.9 million barrels. (Event D on the chart.)
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