
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Germany will release the flash Purchasing Managers’ Index (PMI) on March 24, at 10:30 MT time (GMT+2). It’s an index based on purchasing managers’ surveys in the manufacturing and services industries. All numbers above the 50.0 level indicate industry expansion; numbers that are below the level show contraction. The market hasn’t seen a manufacturing index below 50.0 for 18 months, but it’s far from the historical highs of March 2021. Services PMI is also in the expansion zone, but the EU’s rising prices and supply shortages will greatly affect further readings.
PMI data might be released months ahead of the official data. That’s why the PMI surveys are considered to be one of the world’s most market-moving economic data releases. Geopolitical tensions and wars never take a toll. The economic activity decrease can’t help but to affect the PMI data.
The PMI may fall in this month and continue to decrease later. It will push the euro lower due to the economy weakening. EURUSD is at its lowest since 2020. The US Fed’s rates hike and low PMI numbers may put USD into a stronger position, pushing the chart lower to 1.0600.
As PMI is the essential index, it may influence all EUR pairs greatly. To catch a significant price movement, you can follow other news related to EUR and analyze all the events comprehensively.
Check Economic Calendar.
Instruments to trade: EURCHF, EURUSD, EURJPY, EURCAD.
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
The week will have the biggest event in the US political process over the last two years. How will the elections affect the Forex market? We covered the most important news of this week in this report.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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