US S&P Global services PMI 58.5 vs 55.7 expected

• Prior was 56.1
• Composite PMI rises to 56.6 vs 54.9 prior (33-month high)
• Services PMI jumps to 58.5 vs 56.1 prior (38-month high)
• Manufacturing PMI falls to 48.3 vs 49.7 prior (3-month low)

On inflation:

Overall price pressures cooled further
• but manufacturing saw a spike in input costs to 2-year highs
• Service sector inflation at 4.5 year low
• Supplier delivery times lengthening again

USD/JPY is up a handful of pips on this and the US dollar is broadly stronger.

This article was written by Adam Button at www.forexlive.com.