Manufacturing PMI

Today's release of the S&P Global US Manufacturing PMI (Jul) & S&P Global Services PMI (Jul) may influence the EUR/USD exchange rate.

EURUSD Forecast: Can the positive momentum above 1.07 proceed through PMI day?

The Purchasing Managers’ Index is a popular formula to measure the monthly economic change in a country’s manufacturing sector. Traders can use it as a leading indicator to foresee economic developments.

There were some downside surprises with French and UK services, and German manufacturing, all disappointing expectations

Economic activity remains rooted deeply in negative territory, due to the soaring cost of living, rising interest rates and elevated levels of uncertainty.

Poor PMI data underscore the challenges central banks face at a time when inflation remains very high

Poor PMI data underscore the challenges central banks face at a time when inflation remains very high

With the Jackson Hole Symposium this Thursday and Friday and the Fed stating that it is “data dependent”, the US data matters more at this point.

Another day, another bullet dodged by the troubled Property Developer Evergrande. With a slight risk-on tone, focus now shifts to Flash PMI data for Europe and the US.