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!
How may purchasing managers push the USD?
What will happen?
The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time. The indicator‘s calculations are based on a survey of about 300 purchasing managers. It asks respondents to rate the relative level of business conditions. If the index is higher than 50, it indicates industry expansion. On contrary, a level below 50 shows a slowdown of an industry. During the previous release, the indicator reached 60.8 points, marking the highest optimism since September 2018.
How to trade on the ISM Manufacturing PMI?
It’s very easy to trade on this indicator! You just need to follow the forecasts in the economic calendar.
- If the indicator is higher than the forecast, the USD will strengthen;
- If the indicator is lower than the forecast, the USD will weaken.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
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.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.