Dollar Trading Behaves as Market Anticipates ISM Services PMI Results

Tuesday, 5 March 2024, 12:12
The EUR/USD and GBP/USD pairs remained relatively stable after the latest services PMI data, with focus now shifting to the upcoming ECB meeting. An accommodative stance by the ECB could weigh on the euro, while a neutral outlook may provide support. Notably, the USD/CAD is consolidating, while the USD/JPY shows potential for upward movement towards resistance levels.
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Dollar Trading Behaves as Market Anticipates ISM Services PMI Results

Dollar Trading Around ISM Services PMI Update

The EUR/USD and GBP/USD pairs showed little reaction to the latest services PMI publications, as traders brace for the ECB meeting.

Market Impact and Expectations

  • EUR/USD and GBP/USD: Stable post-PMI data
  • USD/CAD: Consolidating near resistance level
  • USD/JPY: Poised for potential appreciation

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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