The relationship between the US and Turkey is not going well. Neither do things for the Turkish lira.
The pack of PMIs to boost the euro
Information is not investment advice
What will happen?
Once in a month, the euro has a very special day of increased volatility at the start of the European trading session. This is the time when France, Germany, and the Eurozone await the Services and Manufacturing PMIs. The releases come out from 10:15 to 11:00 MT time. These indicators are based on a survey of purchasing managers in services and manufacturing industries. If an indicator is higher than 50, it indicates an expansion of an industry, while an indicator below 50 shows contraction.
How to trade on the PMI releases?
Trading on PMI releases is easy! Check the economic calendar for forecasts, and follow the steps below:
- If the PMI is greater than the forecasts, the EUR will rise;
- In case of an alternative scenario, expect a fall of the EUR.
Instruments to trade: EUR/USD, EUR/GBP, EUR/JPY
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One of the most significant economic indicators for the US dollar will come out on Friday at 15:30 MT (GMT+3) - NFP.