Important Economic Calendar -1 July 2013 - ISM Manufacturing Index

pierreapienaar
By pierreapienaar on Mon, Jul 1, 2013 - 7:14am

Forecast            50.5 

Previous            49.0 

 

The Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) rates the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.

 

The data is compiled from a survey of approximately 400 purchasing managers in the manufacturing industry.

 

On the index, a level above 50.0 indicates industry expansion, below indicates contraction.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

 

THE RIGHT DECISION AT THE RIGHT TIME

 

Which are the most powerful upcoming market-moving events? When is a bullish or a bearish trend likely to set in and how will that affect the market?

 

For traders decision making is all important. Setting up an investment goal and choosing a particular financial instrument to trade on can only bring the expected return on investment if you know what moves the market and when it is the optimal time to enter or exit your trades. With trading decisions that you make in the context of upcoming economic events you have a potentially bigger chance for profit – and this is where an economic calendar comes in handy.

 

The XM economic calendar provides useful information on upcoming macroeconomic events by means of pre-scheduled news announcements and government reports on economic indicators that influence the financial markets. This will help you not only follow a wide range of major economic events that continuously move the market but also make the right investment decisions. Because market reactions to global economic events are very quick, you will find it useful to know the time of such upcoming events and adapt your trading strategies accordingly.

 

In both bullish and bearish markets there are good chances for profit – as long as you know which one is likely to set in and what changes it will bring along. This is where the XM economic calendar will definitely help you.

 

ATTENTION TO DETAIL PAYS OFF

 

With the regular use of the XM economic calendar, you can follow the release schedule of numerous economic indicators and get ready for significant market movements. Economic indicators help you consider trades in the context of economic events and understand price actions during these events. By following indicators for GDP, for instance, or inflation and employment strength, you can anticipate market volatility and gain potential trading opportunities in good time.

 

Source: XM (XEMarkets)

 

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