Time: 4:30am NY Times
Actual: 51.7 Forecast: 49.4 Previous: 48.7
It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy;
Derived Via Survey of purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.
Update: Based on market cycle and market sentiment we were able to make 100+ pips of profits using retracement trade method.