Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
Great trade opportunities on Wednesday
What will happen?
PMI reports from the EU, the UK, and the USA will be released during the whole day on March 24, to the delight of traders. Purchasing Managers’ Index (PMI) is an indicator that measures the economic health of the manufacturing and services sectors. The aim is to provide information about current business conditions. It is based on production, supplier deliveries, new orders, and the employment environment.
How to trade on PMI?
It’s really easy! After the release, just compare the actual numbers with the market estimate. You can find them in our economic calendar, which part you can see in the picture below. The expected data will appear a few days ahead of the release in the column “Forecast”. And when the time comes, the “Actual” column will be updated with real numbers as well.
- 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 volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
The US will reveal Non-farm payrolls on January 7, Friday, at 15:30 GMT+2 (MetaTrader time).
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.