Time: 1:45 pm GMT, Morocco time: 2:45 hours, Egypt time: 4:45 hours, Saudi time: 4:45 hours, Emirates time: 5:45 hours
Previous: 51.3 Expected: 51.0 Actual: 51.7
What is the US Manufacturing Purchasing Managers Index (PMI)?
The Manufacturing Purchasing Managers’ Index (PMI) in the United States is an economic indicator that is used to measure the activity of the manufacturing sector in France. The index is calculated by conducting a monthly survey of managers in manufacturing companies in France. The survey is evaluated on the basis of several indicators on the volume of production, demand, employment, supply, prices and other variables related to the manufacturing sector in the country.
If the monthly release of the US PMI is greater than expected, it means that manufacturing activity in the US may be better than expected. Thus, this could be a positive signal about the direction of the US economy in general, and could lead to an appreciation of the dollar against other currencies in the forex market. This reflects an increase in production and demand for industrial products in France, which is an indicator of the growth of the US economy.
How does the release of the US Manufacturing PMI affect dollar trading in the forex market?
The release of the US Manufacturing Purchasing Managers’ Index (PMI) significantly affects the trading of the US dollar in the forex market. This is because the index is an important indicator of the state of the US economy, and thus affects the expectations of traders and investors about the strength of the US economy and whether it will improve or decline in the future.
When the PMI is released with a higher than expected value, this indicates an improvement in the state of the US economy and an increase in the activity of the manufacturing sector, and this leads to an increase in the value of the US dollar in general in the forex market, as the US dollar becomes more attractive to investors and traders due to the improvement in the state of the US economy.
The agency responsible for issuing the US Manufacturing Purchasing Managers’ Index (PMI)
The US Manufacturing Purchasing Managers’ Index (PMI) is produced by the Institute for Supply Management (ISM), a nonprofit organization that develops the skills and knowledge of those responsible for managing supply chains and manufacturing.
When will the US Manufacturing PMI be released?
Released monthly, about 3 weeks into the current month
- Next release
Jul 24, 2024
