Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
ISM manufacturing PMI is in focus
Traders await the release of ISM manufacturing PMI at 17:00 MT time.
The ISM manufacturing PMI stands for the purchasing managers' index by ISM. This indicator is calculated based on the survey of about 400 purchasing managers, which asks respondents to rate the level of business conditions.
If the indicator is above 50, it shows the expansion of an industry. On the contrary, the index below 50 indicates a slowdown.
The previous data
Last time manufacturing PMI came out at the lower-than-expected level of 47.2 (vs. the forecast of 49). It weakened the USD.
Now we anticipate manufacturing PMI to reach 48.5. Higher figures will push the USD up. In case of an alternative scenario, the USD will weaken.
Geopolitical factors and inflation remain the main drivers of financial markets. Let’s see how to use that in trading!
Have a look at the key financial instruments on Monday, February 28. Geopolitics is currently on all news frontlines. Western nations escalated sanctions on Russia for the invasion of Ukraine.
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.