US: Focus on ISM services data today - Rabobank

Analysts at Rabobank suggest that in the US, ISM services index will be the key economic release for today’s session and the main question will be whether the services sector is also reporting production constraints as a result of input materials or the availability of labour.

Key Quotes

“These sectors may be somewhat less prone to shortages in commodities for their output, but they may also show some signs of stress as a result of the trade tensions. If anything, at an unemployment rate of just 3.8%, their hiring will certainly be affected by the tight labour market that was also reported by manufacturers.”