Today, traders also had a chance to take a look at the final reading of the S&P Global Services PMI Index. The report indicated that S&P Global Services declined from PMI 54.4 to 54.4 to 50.8 in April, compared to analyzer 51.4 analyst forecast.
The PMI report of weak-to-serve services put pressure on S&P Global Composite PMI, which declined from 53.5 to 50.6. Analysts hoped that S&P Global Composite PMI would decrease to 51.2, so the report estimated.
The US dollar moved away from the climb of the index session as the traders reacted to the better ISM services of the ISM Service PMI report. Currently, the US dollar index is trying to settle above the level of 99.60.
After releasing the PMI report, the gold settled near the height of the session. From a technical point of view, gold is stuck in a tight $ 3310 – $ 3320 range.
SP500 attempted to settle back above the level of 5650 as traders focus on encouraging ISM services PMI data.
For a look at all economic events today, check our economic calendar.
