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?
Lots and lots of PMIs on Friday
PMI reports from the EU, the UK, and the USA will be released during the day!
Instruments to trade: EUR/USD, EUR/GBP, GBP/USD
Purchasing Managers’ Index (PMI) is an indicator that measures the economic health of the manufacturing and services sectors. The aim is to provide information about current business conditions. It is based on production, supplier deliveries, new orders, and the employment environment. If the indicator is higher than 50, it demonstrates the expansion of an industry, while an indicator below 50 signals a contraction. Traders pay close attention to whether the real numbers exceed market expectations or not as it will have a huge impact on the currency.
- If the actual PMI data is higher than the forecasts, the currency will strengthen.
- If the actual PMI data is lower than the forecasts, the currency will weaken.
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