US ISM Manufacturing PMI

US ISM Manufacturing PMI

The US dollar is experiencing high volatility. Although the Federal Reserve is gradually raising rates and this is good for the USD, concerns trade about wars are weighing on the currency. The Institute for Supply Management will release Manufacturing PMI at 17:00 MT time on April 2. PMI is a leading indicator of the US economic health. A reading above 50.0 will be positive for this indicator, and the greenback will have chances to strengthen. Moreover, positive economic data may make the Fed to raise interest rates more than 3 times this year. If the indicator disappoints compared with the forecast level, the USD will decline in the short-term.
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On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

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