USD: waiting for the reaction of the US purchasing managers

The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time. 

Instruments to trade: EUR/USD, USD/JPY, USD/CHF

Purchasing managers' index or PMI is an indicator based on the survey of purchasing managers in the manufacturing industry. It demonstrates businesses' attitudes toward the current market situation. If the indicator is higher 50, it shows the expansion of an industry, while an indicator below 50 signals a contraction. Due to the unstable situation in the US market, the index reached only 50.1 points (vs. 50.5 points expected) last time. It pulled the USD lower in the short-term.

• If the actual level of indicator is higher than the forecasts, the USD will strengthen; 

• If the actual level of indicator is lower than the forecasts, the USD will weaken.

Check the economic calendar 

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