ISM or Institute for Supply Management is releasing its PMI (Purchasing Manager Index) and its similar to the UK Services PMI as this release is targeting the services sectors. As a leading indicator, traders generally pay attention to this report for hints of economic trend.
10:00am NY Time US ISM NonManufact. PMI Forecast 55.5 Previous 56.0
If our tradable releases are reached, there is a good expectation that the market will move 50 pips within the next 120 minutes, please focus on the pairs recommended above.
I´ll be using my retracement trading method for this release, for more information on my news trading methods, please read:
US ISM Non-Manufacturing PMI – May 3, 2012 – Forex Trading Strategy
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