The Canada IVEY PMI will be released today. This release is considered a leading indicator that receives much attention from traders; especially when its released early in the week before the Employment report. Here’s the forecast:
10:00am (NY Time) CA IVEY PMI Forecast 58.5 Previous 63.5
ACTION: USD/CAD BUY 55.0 / SELL 61.5
We´ll be trading the UK Services Purchasing Manager Index today at 4:30am (NY Time). This is a leading indicator similar to the Manufacturing PMI that was released early this week, here´s the forecast:
4:28am (NY Time) UK Services PMI Forecast 53.5 Previous 54.0
ACTION: GBP/USD BUY 56.5 SELL 51.0
ISM or Institute for Supply Management is releasing its PMI (Purchasing Manager Index) today. As a leading indicator, traders generally pay attention to this report for hints of economic trend.
Here´s the forecast:
10:00am NY Time US ISM Manufacturing PMI Forecast 54.5 Previous 53.9
ACTION: 57.0 SELL EURUSD/ 52.0 BUY EURUSD
Trade Plan
We´ll be looking for around 2.5 points of deviation for this trade. If a 57.0 or better number is released, we could see some USD strength, thererefore SELL EURUSD. If the opposite is true, or 52.0 figure is released, expect to see weaker USD in the short term, therefore we should BUY EURUSD.
Manufacturing PMI is a leading indicator that is usually released early in the month. Traders pay attention to this release for surprises as this survey may help to shape the general trend of the currency for the rest of the month. Here is the forecast:
4:30am (NY Time) UK Manufacturing PMI Forecast 50.0 Previous 49.6
ACTION: GBP/USD BUY 52.0 SELL 48.0
ISM or Institute for Supply Management is releasing its PMI (Purchasing Manager Index) and its similar to the UK Services PMI as this release is targeting the services sectors. As a leading indicator, traders generally pay attention to this report for hints of economic trend.
10:00am NY Time US ISM NonManufact. PMI Forecast 53.0 Previous 52.0
ACTION: 55.5 BUY USDJPY / 50.5 SELL USDJPY
We´ll be trading the UK Services Purchasing Manager Index today at 4:30am (NY Time). This is a leading indicator similar to the Manufacturing PMI that was released early this week, here´s the forecast:
4:28am (NY Time) UK Services PMI Forecast 51.5 Previous 52.1
ACTION: GBP/USD BUY 54.0 SELL 49.0
ISM or Institute for Supply Management is releasing its PMI (Purchasing Manager Index) today. As a leading indicator, traders generally pay attention to this report for hints of economic trend.
Here´s the forecast:
10:00am NY Time US ISM Manufacturing PMI Forecast 53.3 Previous 52.7
ACTION: 56.0 BUY USDJPY / 50.0 SELL USDJPY
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8:30am (NY Time) US Advance GDP q/q
Forecast 3.0% Previous 1.8%
ACTION: SELL ... (2191)
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