ISM Services PMI Drops To 52.8; Gold Stays Close To Historic Highs

On February 5, 2025, the Institute for Supply Management released ISM Services PMI report for January. The report indicated that ISM Services PMI declined from 54.1 in December to 52.8 in January, compared to analyst consensus of 54.3. Numbers above 50 show expansion.

The Institute for Supply Management commented: “January was the second month in a row with all four subindexes that directly factor into the Services PMI – Business Activity, New Orders, Employment and Supplier Deliveries – in expansion territory.”

Today, traders also had a chance to take a look at the final reading of S&P Global Services PMI report for January. The report showed that S&P Global Services PMI declined from 56.8 in December to 52.9 in January, compared to analyst forecast of 52.8.

The better-than-expected S&P Global Services PMI provided support to S&P Global Composite PMI, which declined from 55.4 to 52.7. This report has also exceeded analyst expectations.

U.S. Dollar Index tested new lows as traders reacted to PMI data. Currently, U.S. Dollar Index is trying to settle below the 107.40 level.

Gold continued its attempts to settle above the $2875 level as traders focused on U.S. dollar’s pullback.

SP500 pulled back towards the 6010 level as traders reacted to the weaker-than-expected ISM Services PMI report.

For a look at all of today’s economic events, check out our economic calendar.