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A Hot ISM Services Number Will Set the US Dollar Up for More Gains

From bnnbloomberg.ca

The dollar is on pace to climb for an eighth straight week, the longest streak since 2005. Traders are looking to services sector data for the gains to continue, with the greenback tending to climb when the report shows expansion and outperforms a slowing goods sector. Services have outperformed the goods sector by a 2.5-point margin over at least six months four times over the past 10 years, and in each of those times the dollar has gained an average of 4%. The currency’s advances have ranged from a modest 1% this year through Tuesday to almost 8% in the period ending November 2016 before peaking. The divide is even ... (full story)

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  • Category: Fundamental Analysis