Economic activity in the US services sector accelerated in October, with the ISM Services PMI rising to 56 from 54.9 in September. This was higher than the market forecast of 53.8.
Other details from the report showed that the Prices Paid Index, a component of inflation, edged down to 58.1 from 59.4, while the Employment Index improved to 53 from 48.1.
Assessing the survey findings, "concerns over political uncertainty were again more prominent than in the previous month," said Steve Miller, Chair of the Institute for Supply Management's (ISM) Services Business Survey Committee. "The impact of the hurricane and the dock labor turbulence were frequently mentioned, although several panelists noted that the dock workers' strike had a smaller impact than feared due to its short duration."
Source: FXStreet
Federal Reserve Chair Jerome Powell on Thursday responded to a Trump administration official's demands for information about cost overruns for a renovation project at the central bank's Washington hea...
The United States Commerce Department is set to impose preliminary anti-dumping duties of 93.5% on graphite imported from China after concluding the materials, which are a key component for batteries,...
U.S. President Donald Trump's decision to ramp up arms shipments to Ukraine is a signal to Kyiv to abandon peace efforts, Russia said on Thursday, vowing it would not accept the "blackmail" of Washing...
Federal Reserve Governor Adriana Kugler said the US central bank should keep interest rates steady "for some time," citing accelerating inflation as tariffs begin to push up prices. "Given the stabil...
Unemployment claims fell 7,000 to 221,000 in the week ending July 12, compared with the median estimate of 233,000, according to Labor Department data. The estimated range was 220,000-240,000 accordi...
Gold steadied and was set for a moderate weekly loss as investors assessed the outlook for Federal Reserve rate cuts after resilient US jobs and retail data eased concerns about the economy. Bullion traded below $3,340 an ounce in early Asian...
Australian equities notched a record high as Asia-Pacific markets tracked Wall Street gains on the back of strong U.S. economic data reports and a slew of better-than-expected corporate earnings. Australia stock markets climb to record...
The Japanese yen rose to around 148 per dollar on Friday, rebounding from a significant drop in the previous session, as investors digested the latest inflation data. Headline inflation ticked down to 3.3% in June 2025 from 3.5% in May, yet it...
U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an...
European stocks erased early gains and closed mostly lower on Tuesday as markets continued to assess how potential tariffs from the US may hurt...
President Donald Trump's renewed calls for Federal Reserve Chair Jerome Powell's resignation have prompted investors to protect portfolios against...
The annual core consumer price inflation rate in the United States, which excludes volatile items like food and energy, ticked up to 2.9% in June...