February 05, 2026 a 02:31 am
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Important Key Figures of the Last Few Days
Over the past few days, key economic figures from the US and the European zones have indicated mixed signals. In the US, the ISM Manufacturing PMI showed a surprising recovery, which is a positive sign for the manufacturing sector. However, the services industry seems to be softening slightly with the ISM Services PMI coming in lower than expected. In Europe, inflation figures reveal a decelerating pace, reflecting lower price pressures across major economies like France and Italy.
Manufacturing and Services Activity - United States
| Event | Previous | Estimate | Actual | Change | Interpretation | USD Impact |
|---|---|---|---|---|---|---|
| ISM Manufacturing PMI (Jan) | 47.9 | 48.2 | 52.6 | +4.7 | The manufacturing sector rebounded, indicating expansion. | Positive for USD |
| ISM Services PMI (Jan) | --- | 54.3 | 53.8 | -0.5 | The services sector shows signs of cooling off. | Neutral to Slightly Negative for USD |
Employment and Job Market - United States
- JOLTs Job Openings (Dec) remains unreported with expectations at 7.0 million. Given previous value was 7.146 million, a decrease could signal a slowing labor demand.
- Potential USD Influence: A drop in job openings could result in weaker USD sentiment.
Inflation Trends in Europe
| Country | Event | Previous | Estimate | Actual | Change | Interpretation |
|---|---|---|---|---|---|---|
| EU | Inflation Rate YoY (Jan) | --- | 1.8% | 1.7% | -0.1% | Continued softening of inflation pressures. |
| Italy | Inflation Rate YoY (Jan) | 1.2% | 0.9% | 1.0% | -0.2% | Slight reduction from previous levels, indicating controlled inflation. |
| France | Inflation Rate YoY (Jan) | 0.8% | 0.7% | 0.3% | -0.5% | Considerable reduction, signaling easing price pressures. |
Interest Rate Decisions and Monetary Policy - Europe
- Both the ECB's Interest Rate Decision and Deposit Facility Rate were expected to remain at 2.15% and 2% respectively with no updates provided yet.
- Potential USD Influence: Unchanged rates may reinforce a stable EUR, indirectly affecting USD conversions based on relative monetary policy dynamics.
Conclusion
The data from recent days present a mixed outlook for the US economy and the USD. The considerably positive shift in the ISM Manufacturing PMI suggests strength in the manufacturing sector, supporting the USD. However, weaker-than-expected ISM Services PMI figures introduce some caution. European inflation trends show easing, suggesting less aggressive future ECB actions, potentially affecting the EUR/USD pair. Overall, slightly positive bias for the USD due to manufacturing strength despite concerns in services.