The US Retail Sales Update
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
European Economy Is Shaking
What is happening?
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.
What is happening with the euro?
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.
How to trade on PMI readings?
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.
- If the actual numbers beat expectations – EUR will rise.
- Otherwise, it might fall.
Check Economic Calendar.
Instruments to trade: EURCHF, EURUSD, EURJPY, EURCAD.
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The US NFP Update: What to Wait for?
The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on May 6, at 15:30 MT time.
Bank of England Statement: What to Expect
The Bank of England will publish its Monetary Policy Report and Summary, Official Bank Rate, and its votes on May 5 at 14:00 MT.
Latest news
Will New Zealand’s Central Bank Boost the NZD?
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
What’s New with Australian Unemployment Rate?
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
Can the UK CPI surprise?
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
