How Will US PMIs Affect the USD?

How Will US PMIs Affect the USD?

What will happen?

The US Markit will publish Flash Manufacturing and Flash Services PMIs (purchasing managers' indices) on June 23 at 16:45 GMT+3. These are the diffusion indices based on surveyed purchasing managers in the manufacturing and services industries. The surveys ask about 800 purchasing managers to rate the relative level of business conditions.

Why is it important?

Generally, businesses quickly react to the changing economic situation. After the indices are calculated, we can compare them and see the conditions of industries. If the index is above 50, an industry is expanding. Vice versa, if it is below 50, an industry is contracting. An expansion is usually a bullish sign for the USD because it means that the economy is growing.

During the previous release, Flash Manufacturing PMI came out at 57.5 (vs. 57.6 forecasted), while Flash Services PMI dropped to 53.5 (vs. 55.1 expected). As a result, the US dollar weakened in the short term. If you traded one lot of EURUSD on this release, you could have earned around $270.

3.png

How to trade on US Flash Manufacturing and Services PMIs?

The indicators are likely to influence the USD pairs. You need to wait for the releases and compare the actual figures from the economic calendar with the forecasts.

  • If the actual numbers beat expectations, the USD will go up.
  • On the contrary, lower numbers will pull the USD down.

Check the Economic Calendar.

Instruments to trade: XAUUSD, EURUSD, USDCAD, USDCHF.

TRADE NOW

Similar

Earnings Season is In Focus
Earnings Season is In Focus

Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?

Can XAUUSD Move Higher?
Can XAUUSD Move Higher?

The dollar's status as the world's reserve currency could only be recovered if the US controls its spending. The huge budget deficit and rising interest rates on the US national debt should scare every American, analysts say. Read the full report to learn more!

Latest news

The Yen Sets New Lows
The Yen Sets New Lows

The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!

BlackRock CEO Supports The USD
BlackRock CEO Supports The USD

BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera