Three Currencies to Watch This Week
We prepared an outlook of major events of this week. Check it and be ready!
The USD is awaiting the flash manufacturing PMI
Information is not investment advice
The United States will publish its flash manufacturing PMI at 16:45 MT time on February 21.
Instruments to trade: EUR/USD, USD/JPY, GBP/USD
This indicator reflects the economic situation of a country. While it’s just a survey of purchasing managers in the manufacturing industry, their answers tend to show the overall views on the current business conditions within a country. If the indicator is above 50, it demonstrates the expansion of an industry, while an indicator below 50 signals a contraction. Last time an indicator came out at a lower-than-expected level. As a result, the USD fell. What awaits the currency this time?
• If the actual level of indicator is higher than the forecasts, the USD will go up;
• If the actual level of indicator is lower than the forecasts, the USD will go down.
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