US Non-Manufacturing PMI in positive territory, yet under forecasts

By IBTimes Staff Reporter | January 06 2010 10:19 AM

FXstreet.com (Barcelona) - The ISM Non-Manufacturing Index PMI improved to 50.1 for December of last year. This result is an improvement over the PMI of 48.7 for November, but a little under more optimistic market expectations of 50.5.

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A score over 50 is seen as positive while a score of less than 50 is considered negative.

Despite coming in slightly under forecasts, the report gives a picture of improving health of the US service, finance and agriculture industries.

The employment sub-index, which is seen as a forecast of the Friday non-farm payroll figures, while still on negative ground, is up to 44 last month from 41.6 in November.

The Dollar is again slightly down against major rivals and gold up in a first spike, still no much definitions seen across the board, said FXstreet.com independent analyst Valeria Bednarik.

Just keep an eye on AUD and CAD, they keep rising and rising. The Dollar will remain in trouble if both majors decide to extend current rallies, she added.

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