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Recent US data, mainly on the weaker side – Deutsche Bank

FXStreet (Delhi) – Jim Reid, Research Analyst at Deutsche Bank, notes that the recent economic releases from the US were mainly on a softer side with September ISM non-manufacturing reading which eased 2.1pts to 56.9, below expectations of a fall to 57.5.

Key Quotes

“The new orders component grabbed some attention after dropping 6.7pts in the month to the lowest in seven months. Prices paid were also soft, dropping to the second-lowest level since July 2009 although on the other hand and seemingly in stark contrast to Friday’s NFP’s, the employment component rose 2.3pts to 58.3 and well above the six-month average of 56.4.”

“Away from this, we also got the final September services PMI which dipped to 55.1. Finally, the September labour market conditions index was flat for the month, declining 1.2pts from August and well below hopes for a bounce to +1.4.”

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