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Forex Flash: ISM non-manufacturing to fall to 53.0 - RBS

By FXstreet.com,  October 02, 2012, 04:21:00 PM EDT

FXstreet.com (San Francisco) - Despite market consensus is to have a decline to 53.2 pts in September from 53.7 in August, The RBS analyst team expects a deeper decline to 53.0 in September.

The Institute for Supply Management is scheduled to publish the ISM non-manufacturing index on Wednesday at 14:00 GMT, just after the US opening bell. ""The ISM non-manufacturing index has been in a holding pattern since the spring, ranging from 52.0 to 54.0," comments the RBS analyst team in its weekly report.

While some further moderation is possible in September, "positive commentary from retailers and six-year highs in homebuilder confidence indicate that at least some of the industries in this survey could have strengthened," points the bank.

"Moderate growth conditions likely extended into September and we expect the headline figure to have remained in the middle of the recent range (53.0) last month," analysts concluded




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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