Expected Impact on Markets:
• US Dollar (USD):
Under selling pressure due to the index falling more than expected, reflecting a slowdown in the service sector growth.
• Gold (XAU/USD):
Likely to rise, as it moves inversely with the dollar
(Additional support if expectations for interest rate cuts increase)
• Other Major Currencies:
• Euro/Dollar (EUR/USD): Upward opportunity
• Sterling/Dollar (GBP/USD): May also benefit
• Dollar/Yen (USD/JPY): May decline
⸻
Summary:
Data weaker than expected, which reinforces the negative outlook for the dollar in the short term, especially if US data continues to weaken