US ISM Services PMI for May due Wednesday, the ranges of estimates (ADP jobs number too) ...Middle East

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US ISM Services PMI for May due Wednesday, the ranges of estimates (ADP jobs number too)
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The consensus median estimate for the US ISM Services PMI is 50.5, as can be seen in the screenshot below, from the ForexLive economic data calendar, access it here. I have seen Reuters with it expected at 50.8. Due at 1000 US Eastern time.Taking a look at the range of expectations:ISM Services PMI 49.1 to 52.5While I'm at it, the other notable release is the ADP jobs number, range is 120k to 190k. This is due at 0815 US Eastern time. ***Why is knowledge of such ranges important?Data results that fall outside of market low and high expectations tend to move markets more significantly for several reasons:Surprise Factor: Markets often price in expectations based on forecasts and previous tren

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