United States Service Industry - Forex Trading Overview

View PDF | Print View
by: fxsolutions
Total views: 5
Word Count: 213
Date: Wed, 19 Oct 2011 Time: 7:33 AM
0 comments

Joseph Trevisani, Chief Market Analyst at FX Solutions (http://www.fxsolutions.com/), provides Forex traders with an overview of currency market activity surrounding the United States service industry.

"The American service sector, 90% of the US economy, slowed in September from a month earlier indicating that stagnant economic growth and weak labor markets will likely continue into the fourth quarter.

The non-manufacturing composite index from the Institute for Supply Management (ISM) of Tempe, Arizona dropped to 53.0 from 53.3 In August. The Bloomberg survey of economists had predicted a decline to 52.8.

Several of the component indices, including new orders and business activity gained while employment and prices fell.

The most worrying was the employment sub-index which sank to 48.7 in September from 51.6. It is the first contraction since last August which registered 49.5 and the lowest reading since an identical score last April. In the ISM methodology results below 50 indicate contractions and above signal expansion. New orders rose to 56.5, a fourth month high and an indication that customers are still placing orders despite the gloomy economic picture. Business activity also expanded to 57.1 from 55.6."

For free daily video market commentary from FX Solutions, visit:
http://www.fxsolutions.com/learning-tools/education-center.asp

About the Author

Forex trading involves substantial risk of loss and is not suitable for all investors.

About FX Solutions

FX Solutions is a leading foreign exchange dealer with a focus on advanced forex trading technologies, transparency of transaction and unparalleled customer service. FX Solutions serves retail clients, white label partners, institutional trading partners and introducing brokers in over 140 countries.

FX Solutions' products are regulated in the United States, United Kingdom and Australia. FX Solutions in the United States is regulated as a member of National Futures Association, and registered with the Commodity Futures Trading Commission as a Futures Commission Merchant. In the United Kingdom, FX Solutions is a registered trading name of City Index Limited which is authorized and regulated by the Financial Services Authority. FX Solutions in Australia is a registered trading name of City Index Australia Pty Ltd. which is authorized and regulated by the Australian Securities and Investments Commission.

For more information, please visit www.fxsolutions.com www.fxsol.co.uk and www.fxsolutions.com.au