ISM Non-manufacturing PMI

The Canadian Dollar gave way to most other comparable currencies in midweek trade after the Institute for Supply Management (ISM) offered further signs of the Federal Reserve having success in wrestling down U.S. inflation, leading to a continued underperformance of North American currencies and further large declines for oil prices. 

The U.S. Dollar reversed earlier losses to make intraday gains over some other major currencies after the Institute for Supply Management (ISM) Services PMI confounded market expectations by rising for the month of July in contrast to the alternative barometer compiled by S&P Global. 

The Pound to Dollar exchange rate rebounded from earlier losses late this week but was hampered again in thin holiday trade on Friday after the May non-farm payrolls and Services PMI reports offered an incitement to a Federal Reserve (Fed) that appeared to become more hawkish in recent days. 

The Dollar Index fell to a fresh two-year low Wednesday as the greenback ceded further ground to all major rivals after a better-than-expected Institute for Supply Management (ISM) was unable to stem the exodus from the U.S. currency.

The Dollar extended an intraday loss Wednesday after the Institute for Supply Management (ISM) non-manufacturing index came out lower than was expected for the February month, suggesting growth within the mighty U.S. services sector has softened of late. 

The Dollar added to gains over the British Pound and other currencies in a risk-off market Tuesday after the Institute of Supply Management (ISM) services PMI shot higher for the month of February. 

The Dollar was boosted during noon trading Tuesday by a survey that suggested the services sector continued to grow strongly in the New Year, although gains could quickly be unwound if President Donald Trump's looming State of the Union address antagonises relations between the White House and Congress. 

The Dollar wallowed in the red Monday and so-called risk assets remained well supported even after the latest Institute of Supply Management (ISM) PMI showed the outlook for the mighty U.S. services sector becoming a tad less rosy during the December month.