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Forex Forum → Your Announcements → United States US Markt Manu PMI June 23 2021

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Topic: United States US Markt Manu PMI June 23 2021

What does the data mean to the market?

Manufacturing PMI data is a survey of a wide range of private sector business purchasing managers. The data is an excellent forward-looking indicator to the state of the private sector business. Purchasing managers affect most areas of the economy like employment, production, and general growth.

Anything above 50 is considered growth and would be positive for the currency value. Anything below 50 is regarded as a contraction and would be negative for the value of the currency.

There are two releases
of this report Flash and Final. Flash is reported first form source and therefore has the most impact.

We also have services PMI simultaneously, and both need to deviate in the same direction to take a trade.



Historic deviations and their outcome

May 21 2021  Strong numbers from both Manufacturing and Services created a nice move that didnt suffer much of a retrace. Ideal for my trading style.

Check out the price action here:
https://calendarapi.galaxysoftwareinc.com/l/52065/aHR0cHM6Ly9jYWxlbmRhci5nYWxheHlzb2Z0d2FyZWluYy5jb20vIy9jaGFydDtpPTUyMDY1O3Q9MjAyMS01LTIxJTIwMTM6NDU6MDAuMDtzPVVTREpQWTtyPVMxMA

January 22 2021  Huge deviations on both lines did not create a good move, however this wasn't really down to the data failing, It was overshadowed by other news at the time regarding Covid lock downs creating a "Risk Off" environment.


Check out the price action here:
https://calendarapi.galaxysoftwareinc.com/l/26497/aHR0cHM6Ly9jYWxlbmRhci5nYWxheHlzb2Z0d2FyZWluYy5jb20vIy9jaGFydDtpPTI2NDk3O3Q9MjAyMS0xLTIyJTIwMTQ6NDU6MDAuMDtzPVVTREpQWTtyPVM1




I will use forecasts of:

Markit Manuf PMI - P  61.5
Markit Svcs PMI - P  70



Today's trade plan

Today, if we see both lines deviate together by at least 3.0, we can expect the US Dollar to move slowly and hopefully offer a few minutes of continuation as the data is digested. This won't create a huge spike, but it does hold some profit potential.


Tradable pairs

USDJPY


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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