
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
European Flash Manufacturing PMI will be announced on Tuesday at 11:00 MT time.
Instruments to trade: EUR/USD, EUR/GBP, EUR/JPY, EUR/CAD
Since January 2019, the Manufacturing PMI for the Eurozone has been below 50. That means, all along this period the industry in Europe has been contracting. However, in September, the dynamic has changed from a gradual decline to an upward curve, and in February the indicator rose to 49.2.
Lamentably, that was when the virus started making its way into Europe. Now, we are going to see how the industrial situation changed during the month, and how some 5000 purchasing managers see the future of the market. Obviously, there will be downward revision due to the virus-related production shutdowns, so the question will be not whether the indicator comes positive or negative in relation to the 50 point mark. Rather, the question is whether the market expectations will be aligned with what industry managers think, or they see it much worse. In the latter scenario, the EUR will lose value.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!