The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time.
ISM manufacturing PMI is in focus
Information is not investment advice
Traders await the release of ISM manufacturing PMI at 17:00 MT time.
The ISM manufacturing PMI stands for the purchasing managers' index by ISM. This indicator is calculated based on the survey of about 400 purchasing managers, which asks respondents to rate the level of business conditions.
If the indicator is above 50, it shows the expansion of an industry. On the contrary, the index below 50 indicates a slowdown.
The previous data
Last time manufacturing PMI came out at the lower-than-expected level of 47.2 (vs. the forecast of 49). It weakened the USD.
Now we anticipate manufacturing PMI to reach 48.5. Higher figures will push the USD up. In case of an alternative scenario, the USD will weaken.
Canada will publish the monthly GDP growth on Tuesday, at 15:30 MT time.
The British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
The country has come through the worst and is recovering now.
Moody’s downgraded the country to ‘junk’ status on Friday.
The US economy has been hit hard by the coronavirus outbreak.