This Wednesday will be heaven for day traders. A considerable number of events will make the market volatile. Don't miss it!
EUR, USD, GBP: all attention to PMI reports
What will happen?
PMI reports from the EU, the UK, and the USA will be released during the day! What is PMI? Purchasing Managers’ Index (PMI) is an indicator that measures the economic health of the manufacturing and services sectors. It is based on production, supplier deliveries, new orders, and the employment environment. If the indicator is higher than 50, it demonstrates the expansion of an industry, while an indicator below 50 signals a contraction.
How to trade on PMI?
Traders pay close attention to whether the real numbers exceed market expectations or not as it will have a huge impact on the currency.
- If the actual PMI data is higher than the forecasts, the currency will strengthen.
- If the actual PMI data is lower than the forecasts, the currency will weaken.
Instruments to trade: EUR/USD, EUR/GBP, GBP/USD
The G20 summit and the US PPI release gave us a lot of volatility to trade on. Luckily, today’s markets may be even more volatile with new vital releases and geopolitical decisions. The daily news report will surely help you!
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Hello, dear traders! We hope you have a great day! Let’s see what news is worth following today! Market closing US stock exchanges will be closed due to the Thanksgiving holiday…
Today, two events will shake the US dollar. First, at 16:45 GMT+2, Markit, a statistical company, will release the US Flash Services PMI. Moreover, at 21:00 GMT+2, the Federal Reserve will release its meeting minutes.