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 Will USD React to ISM Manufacturing PMI?
What will happen?
ISM Manufacturing PMI will be announced at 17:00 MT (GMT+2) on Wednesday, December 1.
It's a leading indicator of economic health. Businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.
Last time the result was higher than the expectations, but lower than the previous time, as the result EUR/USD gained 300 points.
How to trade on ISM Manufacturing PMI?
- If the indicator is greater than forecast, the USD is likely to rise against other currencies.
- If the indicator is lower than forecast, the USD is likely to fall against other currencies.
Instruments to trade: EUR/USD, USD/CHF, USD/CAD.
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
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.