US ISM Manufacturing PMI (Oct) rises to 59.0 , The USD is set to rise !

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The Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI)shows business conditions in the US manufacturing sector , It is a significant indicator of the overall economic condition in United States.

Usual Effect: A high reading or a better than expected number is seen as positive for the USD, while a low reading is negative.

Frequency: Released monthly, on the first business day after the month ends.

Last Read :56.6

Expectations :56.2

Actual : 59.0

Volatility : high

Market Impact : a reading above 57.0  is likely to bring bullish move for the USD.

Recommendations : Buy the USD …any fall should be limited and should be taken as an opportunity to buy the USD on dips.The US dollar remains strong against all majors.