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3 May

By Ahmed Mamdouh

Category: Forex News

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US services sector eases expansion in April

U.S. services sector signaled an ease in expansion in the month of April, the ISM non-manufacturing PMI showed on Thursday.

ISM services PMI recorded 56.8 last month from 58.8 in March, which came lower than estimates of 58.1.

Data released this week showed that the manufacturing ISM gauge retreated to 57.3 last month from 59.3 in March.

As of 14:03 GMT, the U.S. dollar remained low at 92.37, yet it eased some of the losses after it hit a bottom of 92.18.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.