Russian services sector grows for second month in September

The Institute for Supply Management (ISM) will release its September gauge of the US services sector on Monday at 14:00 GMT. Analysts expect a slight increase to 55.7, up from August's 55.4, indicating continued resilience in the economy. The latest report showed hiring momentum pick up, with the ISM Employment Index rising to 47.8, and new orders increasing to 60.9, suggesting demand may be gaining traction.

However, inflation remains a concern, with the US inflation rate exceeding the Federal Reserve's 2% target. Fed officials are cautious about further rate hikes, keeping inflation on the table as a potential source of increased speculation on additional rate hikes later in the year. A report that meets expectations should not significantly impact the US Dollar (USD), confirming an economy that is resilient but still grappling with inflation.

A weaker-than-expected reading could weaken confidence and lead investors to reduce USD holdings, fearing a slowdown in growth.