Ultima Markets
You are visiting the website that is operated by Ultima Markets Ltd, a licensed investment firm by the Financial Services Commission “FSC” of Mauritius, under license number GB 23201593. Please be advised that Ultima Markets Ltd does not have legal entities in the European Union.
If you wish to open an account in an EU investment firm and protected by EU laws, you will be redirected to Ultima Markets Cyprus Ltd (the “CIF”), a Cyprus investment firm duly licensed and regulated by the Cyprus Securities and Exchange Commission with license number 426/23.
US services industry slowed down in March, with services pricing drop to four-year low, in-line with Fed’s outlook. According to Institute for Supply Management (ISM), Non-Manufacturing PMI for last month fell from 52.6 to 51.4. The index marks second monthly decline since its rebound in January.
(ISM Non-Manufacturing PMI)
Although the index remains above 50, indicating growth in the industry, the report which highlights depreciating services prices cements expectations for a rate cut. While Federal Reserve is expected to loosen their tight monetary policy, its timing is highly dependent on how inflation behaves.
On the other hand, new orders for services sector have slipped from 56.1 to 54.4 last month. Although production remains strong, slowing demand may be largely attributed to high interest rates setting, normalising economic momentum. Looking ahead, market participants will be paying attention to Friday’s Nonfarm Payrolls report, which is expected to increase by 200,000 jobs last month.
Disclaimer
Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.
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Risk Warning: Trading Forex and CFDs carries the risk of losing substantially more than your initial investment and should only be traded with money you can afford to lose. You do not own or have any rights to the assets that underlying the derivatives (such as the right to receive dividend payments). Ensure you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please consider our legal documents and ensure that you fully understand the risks before you make any trading decisions.
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Ultima Markets, a trading name of Ultima Markets Ltd, is authorized and regulated by the Financial Services Commission "FSC" of Mauritius as an Investment Dealer (Full-Service Dealer, excluding Underwriting) (license No. GB 23201593). The registered office address: 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius.
HuaPrime EU Ltd, registered number HE423188, and with a business address at Georgiou Griva Digeni 122A, Kallinicos Court, Shop 1—Upper level, Neapolis, 3101 Limassol, Cyprus, is regulated by the Cyprus Securities and Exchange Commission, which has CIF license number 426/23.
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