US ISM Services PMI eases to 54 in June
Economic activity in the US service sector lost some momentum in June, with the ISM Services PMI easing to 54.0 from 54.5 in the previous month, matching analysts' expectations.
Further poll results found that the Prices Paid Index, a crucial barometer of inflation, cooled to 67.7 from 71.3, while the Employment Index rose to 51.2 from 47.9, indicating a modest improvement in labour market conditions in the service sector. Finally, the New Orders Index weakened to 55.1 from 57.3.
Market reaction
The Greenback starts the week in a positive mood, sending the US Dollar Index (DXY) back above the 101.00 hurdle.
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