Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Trading news
Back
1 Aug 2018

When is the US ISM Manufacturing PMI and how could it affect EUR/USD?

US ISM Manufacturing PMI overview

The Institute of Supply Management (ISM) will release its latest manufacturing business survey result at 1400 GMT this Monday. Consensus estimate point to a slightly lower reading of 59.5 for July, down from previous month's four-month high level of 60.2. 

Deviation impact on EUR/USD

Readers can find FX Street's proprietary deviation impact map of the event below. As observed the reaction in case of a relative deviation of 0.81 or higher is likely to be in the range of 29-pips in the first 15-minutes and could stretch to 56-pips in the following 4 hours.

Alternatively, a deviation of -0.73 or less could move the pair lower by 29-pips in the first 15-minutes and by about 64-pips in the subsequent 4-hours.

The market reaction, however, is expected to be rather muted this time as investors might refrain from placing any aggressive bets ahead of the key event risk - the latest FOMC monetary policy decision, due to be announced later during the New-York trading session.

How could it affect EUR/USD?

Yohay Elam, FXStreet's own Analyst explains, “1.1665 separated ranges in late July. Lower, 1.1620 was a trough in late July. Lower, 1.1575 was a low point in the middle of the month. The 2018 low of 1.1508 is next.” 

“1.1750 is a double top and also was a high point in mid-July. 1.1795 is the peak during July. Higher above we find 1.1850, the peak that was seen in mid-June,” he adds further.

Key Notes

   •  How to trade the US ISM Manufacturing PMI with EUR/USD

   •  US: Manufacturer sentiment in July likely remained elevated - Nomura

   •  EUR/USD Technical Analysis: Spot struggled at the resistance short-term line around 1.1735

About the US ISM manufacturing PMI

The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector. It is a significant indicator of the overall economic condition in the US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish).
 

Aug 1, 2018

DXY Technical Analysis: Found contention in the short-term support line around 94.20

DXY daily chart           Daily high: 94.70 Daily low: 94.53 Support Levels S1: 94.28 S2: 94.01 S3: 93.87 Resistance Levels R1: 94.69
Read more Previous
Aug 1, 2018

USD/CAD seen stabilizing around 1.2922/17 – Commerzbank

In opinion of Axel Rudolph, Senior Analyst at Commerzbank, the pair could slip back to the 1.2920 region, where it is expected to consolidate ahead of
Read more Next