
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
The US Institute for Supply Management will release ISM manufacturing PMI on June 1, at 17:00 MT time (GMT+3). It’s a leading indicator of economic health as businesses react quickly to market conditions. Purchasing managers have perhaps the most current and relevant insight into companies’ views of the economy. They rate the relative level of business conditions, including employment, production, new orders, prices, etc. Around 300 purchasing managers take part in the survey.
It’s no secret that the economy is damaged due to inflation, rising rates, supply issues, and geopolitics. Thus, there is a high chance of ISM PMI decrease. Moreover, the index may enter the contraction zone (fall below 50.0) and put even more pressure on the USD and stocks. If purchasing managers consider the economy weak, that goes for the broad market too.
Last time, the result was less than expected (55.4 Actual vs 57.5 Forecast). The reading caused volatile moves in EURUSD. However, the pair slid lower due to the euro weakness. A 1-lot sell trade on the top of the movement would have brought a profit of $350.
Compare the actual results with the expectations. The market will probably expect numbers above 50.0. Thus, if the reading is lower than 50.0, the USD will be under heavy pressure.
Check the Economic Calendar.
Instruments to trade: EURUSD, GBPUSD, USDJPY
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
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.
Mester (Fed) says the Fed will have to raise rates again this year. However, the US dollar index shows signs of a short-term decline. Read the full article and learn more!
Welcome to the first week of October! As usual, at the start of the week, we are looking for valuable insights that will bring us profits in trading. Let’s observe the main events.
Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!