The first look at the Markit US services PMI for February

  • Prior was 55.6
  • New business index at lowest since Sept at 53.3 vs 56.0 prior
  • New orders 54.3 vs 55.8 prior
  • Employment 52.7 vs 53.9 prior
  • Composite PMI 54.3 vs 55.8 prior

This is like an early look at the ISM non-manufacturing survey. These are still solid numbers but given the strong data lately, this is disappointment. USD/JPY ticked lower on the headlines.