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US dollar runs higher after strong service-sector report
This is a tough time for forecasting the US economy. In the space of 15 minutes there were two reports on the US service sector; one said the US economy was contracting at a 1% clip, the other showed an economy accelerating.
The latter one was the ISM services report and it has a longer and strong track record so that's where markets are focused. The reading of 56.5 on services compares to 53.3 expected and it's led to a big US dollar rally.
The thinking is that we might not be at... Read More
Posted: Dec 5 2022, 15:34
Author Name: forexlive
Views: 111434