North American Summary and Highlights 3 Oct
Overview - The USD slipped in the European morning but was mixed in North America after ISM services data.
North American session
With the non-farm payroll postponed due to the government shutdown, on which there was no sign of any progress, data focus was on September’s ISM services index. This was weaker than expected at 50.0 from 52.0, but with prices paid slightly higher at 69.4 from 69.2.
EUR/USD saw a brief bounce on the data before returning to near 1.1740 but with UST yields moving higher USD/JPY picked up to near 147.50 from 147.35. EUR/GBP at .8710 from .8725, and EUR/CHF, at .9335 from .9350 were weaker. AUD/USD was little changed near .66 and USD/CAD slightly lower near 1.3950.
European morning session
Then USD weakened through the European morning, with the JPY once again leading the way. USD/JPY lost 35 pips to 147.35, while EUR/USD gained just 15 pips to 1.1735. AUD/USD gained 10 pips 0.6605, while USD/CAD was unchanged. to while the commodity currencies were not much changed. Scandis were slightly firmer against the EUR, helped by a stronger Swedish services PMI.
Final European PMIs were mixed, but the Eurozone composite PMI was unrevised at 51.2, while the UK composite PMI was revised down to 50.1 from 51.0.