Market Crash Incoming?
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.
USD: all attention to Manufacturing PMI
USD: all attention to Manufacturing PMI
Instruments to trade: EUR/USD, USD/JPY, USD/CHF
US ISM Manufacturing PMI will be out on January 4 at 17:00 MT time. What is it? Purchasing managers' index or PMI is an indicator based on the survey of purchasing managers in the manufacturing industry. Well, what does it show? Businesses' attitudes to the current market situation. If the indicator is higher than 50, it demonstrates the expansion of an industry, while an indicator below 50 signals a contraction. For instance, the PMI fell to 57.5 in November from a two-year high of 59.3 reached in October. How the market will react? It depends on whether the real numbers exceed expectations or not.
- If the actual PMI data is higher than the forecasts, the USD will strengthen.
- If the actual PMI data is lower than the forecasts, the USD will weaken.
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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.
Investor Positivity May Fade After Powell's Speech and CPI Release
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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