Lots and lots of PMIs on Friday

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.

Check the economic calendar

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Last week the USD soared versus other major currencies, while gold headed for the biggest weekly loss in 15 months. Let’s see what new moves await us this week!

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