Today, traders likewise had a possibility to have a look at the ISM Services PMI report for December. The report revealed that ISM Services PMI increased from 52.1 in November to 54.1 in December, compared to expert agreement of 53.3. Numbers above 50 program growth.
New Orders index increased from 53.7 in November to 54.2 in December, while Business Activity index enhanced from 53.7 to 58.2.
The Institute for Supply Management commented: “Many markets kept in mind that end-of-year and seasonal aspects were assisting drive organization activity or effect stock management.”
U.S. Dollar Index picked up speed as traders responded to better-than-expected reports. Presently, U.S. Dollar Index is attempting to settle above the 108.50 level.
Gold drew back from session highs as traders concentrated on U.S. dollar's rebound. Treasury yields moved higher, putting extra pressure on gold markets.
SP500 discovered itself under pressure after the release of the reports as traders bank on hawkish Fed. Presently, SP500 is attempting to settle listed below the 5960 level.
