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The Eurozone Manufacturing PMI will be published at 11:00 MT Time on June 23.
Instruments to trade: EUR/USD, EUR/JPY, EUR/CHF
This day will be especially important for the Eurozone as both France and Germany will report their data at 10:15 and 10:30 MT time, respectively. Later the overall Eurozone PMI will be released at 11:00 MT time. This indicator shows the survey of 5,000 purchasing managers in the manufacturing industry. Investors pay a lot of attention to it as it’s the most relevant assessment of the current economic activity and the company's view of the economy. When the indicator is above 50.0, it signals the industry expansion, below – contraction. Nevertheless, these days it only needs to be better than expected to push prices up.
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
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This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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