US ISM Non-Manufacturing PMI is a leading indicator and especially important as services sector in the US covers over 70% of businesses, thus a strong release will go a long way in the eyes of economists and even the Feds alike. Obviously, any strong surprise today would give us a hint as to what Friday’s NFP will be like, but as far as eventually leading to a rate hike, not so much…
10:00am NY Time US ISM Non-Manufacturing. PMI Forecast 53.1 Previous 51.4
If our tradable releases are reached, there is a good expectation that the market will move 50 pips within the next 120 minutes.
I´ll be using my retracement trading method for this release, for more information on my news trading methods, please read: http://www.currencynewstrading.com/how-to-get-started-with-news-trading/
I’d recommend to use the Recommended Pairs from above as they are based on my CSM, which should provide the best combination of currency pairs to trade based on better/worse news… of course, you can also trade the default pair: EURUSD.
US ISM Non-Manufacturing PMI | October 5, 2016 | Forex Trading
October 3, 2016 by Leave a Comment