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Forex Forum → Your Announcements → Germany German Flash Manufacturing PMI June 23 2021

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Topic: Germany German Flash Manufacturing PMI June 23 2021

What does the data mean to the market?

PMI Manufacturing data is a survey of a wide range number of private sector business leaders, the results of the survey are released towards the end of the month and therefore become a good forward-looking indicator to the state of the private sector business. The state of the private sector has to knock on effect on employment, purchasing and growth of the economy. Anything above 50 is considered growth/positive for the currency value. Anything below 50 is considered contraction/negative for the value of the currency.

Theres also services PMI at the samne time which is slightly less important to the German economy then manufactoring but I would not like this to conflict with Manufactoring to take a trade.


Historic deviations and their outcome

May 21 2021  Negative deviations from manufacturing and composite pushed EURUSD down 14 pips, even with a mall conflict from services.

Check out the price action here:
https://calendarapi.galaxysoftwareinc.com/l/52051/aHR0cHM6Ly9jYWxlbmRhci5nYWxheHlzb2Z0d2FyZWluYy5jb20vIy9jaGFydDtpPTUyMDUxO3Q9MjAyMS01LTIxJTIwNzozMDowMC4wO3M9RVVSVVNEO3I9UzE

March 24 2021  Massive deviations on all four lines created a small but well-formed 13 pips on EURUSD.

Check out the price action here:
https://calendarapi.galaxysoftwareinc.com/l/34369/aHR0cHM6Ly9jYWxlbmRhci5nYWxheHlzb2Z0d2FyZWluYy5jb20vIy9jaGFydDtpPTM0MzY5O3Q9MjAyMS0zLTI0JTIwODozMDowMC4wO3M9RVVSVVNEO3I9UzE




I will use forecasts of:

PMI - Composite (M/M) - P  57.6
PMI - Manufacturing (M/M) - P  63
PMI - Services (M/M) - P  55.7



Today's trade plan

If Manufacturing deviates by 3.0 with both composite and services deviating by 1.0 in the same direction, we should be assured of a good move.


Tradable pairs

EURUSD


Hope this helps but please do your own analysis!!

Good luck!!

James Thatcher

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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