US ISM Non-Manufacturing PMI is usually very market moving and considering that over 70% of U.S. labor force is services related, today’s release should most definitely move the market; with Nonfarm Payroll scheduled on Friday, market will pay even more attention to this release, along with the ADP NFP report on Wednesday.
10:00 am NY Time US ISM Non-Manufacturing. PMI Forecast 59.2 Previous 60.1
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 using 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 | December 5, 2017 | Forex News Trading
December 3, 2017 by Leave a Comment