Main Market Trends on September 23
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
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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