U.S. ISM non-manufacturing index rises in February

The U.S. Institute for Supply Management’s non-manufacturing index rose in the month of February. The ISM non-manufacturing index rose 3 points to 59.7, coming in above consensus expectations of a rise to 57.4.

Out of four main subcomponents, three rose on the month, driven by increase in new orders and business activity to 65.2 and 64.7, respectively. Both subcomponents are at their post-recession peaks. Supplier deliveries saw a smaller rise of 2 points to 53.5.

In the meantime, the rate of hiring has eased with the employment subcomponent falling on the month to 55.2. While it continues to be in expansionary territory, the subcomponent has dropped in four of the last five months, noted TD Economics in a research report.

Price pressures also eased in February. The prices paid subcomponent moved lower after the gain prior month. Trade-related components came in mixed in February, with export orders rising 4.5 points to 55 while import orders dropped 3.5 points to 48.5. It is significant to note that trade components are not seasonally adjusted, and thus the falls should be interpreted with caution.

At 19:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was neutral at 45.1586 more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex