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

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.

MARKET DATA

UPCOMING ECONOMIC EVENTS