10:00am (NY Time) US ISM Manufacturing PMI Forecast 46.4 Previous 44.8
ACTION: USD/JPY BUY 49.0 SELL 44.0
This is one of the first important indicator for this week and may have a longer effect for the rest of the month. If the number is lower, we’ll look to BUY GBP/USD, EUR/USD or SELL USD/JPY, USD/CHF, USD/CAD. If the number is significantly higher, we’ll look to SELL GBP/USD, EUR/USD or BUY USD/JPY, USD/CHF, USD/CAD. But remember, take a couple of seconds to see the market reaction if the number is lower. We could very well see broad bullish sentiment for the U.S. Dollar and ignore the worse number.
