U.S. Dollar Retreats After ISM Services PMI Falls Short of Expectations

Wednesday, 3 April 2024, 16:04
The U.S. Dollar experiences a retreat after the ISM Services PMI data fails to meet market expectations. This development impacts major currency pairs, leading to revised forecasts for EUR/USD, GBP/USD, USD/CAD, and USD/JPY. Traders are advised to monitor key support and resistance levels for potential trading opportunities in the forex market.
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U.S. Dollar Retreats After ISM Services PMI Falls Short of Expectations

Latest Market Update

The U.S. Dollar retreats as ISM Services PMI undershoots expectations, influencing major currency pairs. The decline signifies potential shifts in forex trading dynamics.

Forecasts Revision

  • EUR/USD: Expected to see increased volatility following the Dollar pullback.
  • GBP/USD: Traders cautious amid uncertain market sentiment.
  • USD/CAD: Impact of PMI data on the Canadian Dollar explored.
  • USD/JPY: Market reaction to the news reflected in revised forecasts.

Traders urged to exercise caution and consider revised forecasts for informed trading decisions.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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