German Ifo Business Climate
Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time.
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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Big Event for GBP: Bank of England’s Statement
The Bank of England will hold a meeting on Thursday at 14:00 MT time (GMT+3).
Markets Ahead of Fed Meeting
That day has come, guys! The Fed will hold a meeting at 21:00 GMT+3. It can be a highly impactful event. The markets expect the bank to hint about the timing of tapering.
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Main Market Trends on September 23
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
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