U.S. Services Index Unexpectedly Inches Higher In Augustfxcue.com

(fxcue news) - The Institute for Supply Management released a report on Thursday unexpectedly showing a slight uptick by its reading on U.S. service sector activity in the month of August. The ISM said its services PMI inched up to 51.5 in August from 51.4 in July, with a reading above 50 indicating growth in the sector. Economists had expected the index to edge down to 51.1. "For a second straight month, the slow growth indicated by the Services PMI reading was reinforced by panelists' comments," said Steve Miller, Chair of the ISM Services Business Survey Committee. He added, "Slow-to-moderate growth was cited across many industries, while ongoing high costs and interest-rate pressures were often mentioned as negatively impacting business performance and driving softness in sales and traffic." The uptick by the headline index came as the new orders index crept up to 53.0 in August from 52.4 in July, indicating modestly faster growth. Meanwhile, the business activity index fell to 53.3 in August from 54.5 in July and the employment index dipped to 50.2 in August from 51.1 in July, but the readings above 50 still indicate growth. The report also said the prices index inched up to 57.3 in August from 57.0 in July, suggesting prices increased at a slightly faster rate. On Tuesday, the ISM released a separate report showing its reading on U.S. manufacturing activity saw a modest increase in the month of August but continued to indicate contraction. The ISM said its manufacturing PMI inched up to 47.2 in August from 46.8 in July, with a reading below 50 indicating contraction. Economists had expected the index to rise to 47.5.

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Gold trading: 2615 short selling, loss 2624, take profit 2593

Gold short selling stop loss...

Today's gold trading strategy 1: Buy long until it falls back to around 2589, lose 2582, look short around 2615, target 2620-25; Strategy 2: Short sell when the rebound reaches around 2625, with a loss of 2633. Short look around 2590, with a target of 2560.

Sell near spot gold 2604, protect 2614, target 2582-2570; Break through holding;

Gold bought more at 2590 in the morning session of the Asian market today, 2585, with a target of 2610.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.0-67.5 below.

Today's short-term operations in gold are mainly focused on rebound short selling, supplemented by buy long during pullbacks. The short-term focus above is on the resistance line of 2605-2610, while the short-term focus below is on the support line of 2575-2570.

Today, I made two gold trades and achieved a perfect profit

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U.S. Services Index Unexpectedly Inches Higher In August

U.S. Private Sector Job Growth In August Slowest Since January 2021

OpenAI Co-founder's New AI Startup SSI Raises $1 Bln

Canadian Stocks Retreat After Early Gains; TSX Down Nearly 1%

Swiss Market Ends Notably Lower

Japanese Market Slightly Higher

U.S. Job Growth Misses Estimates In August But Unemployment Rate Dips

U.S. Services Index Unexpectedly Inches Higher In August

U.S. Labor Productivity Jumps 2.5% In Q2

Please sign in

Trader

Gold trading: 2615 short selling, loss 2624, take profit 2593

Gold short selling stop loss...

Today's gold trading strategy 1: Buy long until it falls back to around 2589, lose 2582, look short around 2615, target 2620-25; Strategy 2: Short sell when the rebound reaches around 2625, with a loss of 2633. Short look around 2590, with a target of 2560.

Sell near spot gold 2604, protect 2614, target 2582-2570; Break through holding;

Gold bought more at 2590 in the morning session of the Asian market today, 2585, with a target of 2610.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.0-67.5 below.

Today's short-term operations in gold are mainly focused on rebound short selling, supplemented by buy long during pullbacks. The short-term focus above is on the resistance line of 2605-2610, while the short-term focus below is on the support line of 2575-2570.

Today, I made two gold trades and achieved a perfect profit

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