Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
How bad will US PMI be?
Information is not investment advice
The US PMI will be released on May 1 at 17:00 MT.
Instruments to trade: EUR/USD, USD/JPY, USD/CHF, AUD/USD, USD/CNH, USD/CAD
The US Manufacturing PMI reveals the survey of 400 purchasing managers, who rate current business conditions. If the PMI is above 50.0, it will indicate the industry expansion, below – the industry contraction. It’s clear that PMI will plummet amid the national lockdown. Analysts forecast the US PMI to drop to 37 in April and that would not be the bottom. However, the US dollar is not supposed to be sensitive to this drop as it plays a role of a safe-haven currency these days. That’s why USD won’t fall so deep as the US PMI.
If PMI is greater than it was expected, USD will typically increase, otherwise – decrease.
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Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
The US Labor Market And Real Estate Market Are In Focus This Week
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.
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