What is the ISM services index
It is the result of a survey of non-manufacturing purchasing and supply managers published as an index, maximum value of this index is 100. If the index value goes below a level of 50 units it means that the sector is weakening and the pace of its development has decreased
This factor has a modest effect on the Forex market. It is important to differentiate psychological jumps from real increasing and decreasing trends. The increase of the index may indicate a potential rise in the USD.
This indicator released at 10:00 EST (New York) one day after the NAMP.
Written by FxErvin