The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
The pack of PMIs to boost the euro
What will happen?
Once in a month, the euro has a very special day of increased volatility at the start of the European trading session. This is the time when France, Germany, and the Eurozone await the Services and Manufacturing PMIs. The releases come out from 10:15 to 11:00 MT time. These indicators are based on a survey of purchasing managers in services and manufacturing industries. If an indicator is higher than 50, it indicates an expansion of an industry, while an indicator below 50 shows contraction.
How to trade on the PMI releases?
Trading on PMI releases is easy! Check the economic calendar for forecasts, and follow the steps below:
- If the PMI is greater than the forecasts, the EUR will rise;
- In case of an alternative scenario, expect a fall of the EUR.
Instruments to trade: EUR/USD, EUR/GBP, EUR/JPY
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
The CAD is dominating the markets after the key rate increase! Read the full report to learn more about trading opportunities with the Canadian Dollar!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.