- US ISM Services PMI has surged from last month’s 54 to 54.1, influencing the crypto market.
- The report suggests that the services sector has been significantly expanding.
- As inflation remains elevated, the Fed may choose a hawkish stance at the next FOMC.
Following the US ISM Manufacturing PMI report, today’s ISM Services PMI offers a more comprehensive view of the world’s largest economy. As the services sector remains dominant in US economic activity, investors are closely watching the report. This is because the report can provide hints on inflation, interest rates, and the Federal Reserve’s next policy decision, which could ultimately influence the crypto market.
