PMI Report Update
The PMI Services report is due out in approximately 2 hours. Last month, the index rose from 50.6% to 53.4%. This month, the forecast is slightly lower at 53%.
There is not a significant difference between the actual figure from last month and the forecast. However, the key point is that the figure is above 50.
In general, a higher than expected reading is likely to lead to a rise in the dollar index, while a lower than expected reading is likely to lead to a fall in the dollar index.
If the actual figure is in line with the forecast or there is no significant difference from last month, we do not expect any major market reaction.
Additional Information:
The PMI (Purchasing Managers' Index) is a survey-based measure of economic activity.
A reading above 50 indicates expansion, while a reading below 50 indicates contraction.
The PMI Services report focuses on the services sector of the economy.
The services sector is the largest sector of the economy in most developed countries.
__________
This information is provided for general knowledge purposes only and should not be considered as investment advice. Please consult with a qualified financial advisor before making any investment decisions.
The PMI Services report is due out in approximately 2 hours. Last month, the index rose from 50.6% to 53.4%. This month, the forecast is slightly lower at 53%.
There is not a significant difference between the actual figure from last month and the forecast. However, the key point is that the figure is above 50.
In general, a higher than expected reading is likely to lead to a rise in the dollar index, while a lower than expected reading is likely to lead to a fall in the dollar index.
If the actual figure is in line with the forecast or there is no significant difference from last month, we do not expect any major market reaction.
Additional Information:
The PMI (Purchasing Managers' Index) is a survey-based measure of economic activity.
A reading above 50 indicates expansion, while a reading below 50 indicates contraction.
The PMI Services report focuses on the services sector of the economy.
The services sector is the largest sector of the economy in most developed countries.
__________
This information is provided for general knowledge purposes only and should not be considered as investment advice. Please consult with a qualified financial advisor before making any investment decisions.