03:00 PM GMT, United States - ISM Data for February:
- ISM Manufacturing Employment: actual 47.6; previous 50.3;
- ISM Manufacturing New Orders Index: actual 48.6; previous 55.1;
- ISM Manufacturing Prices: actual 62.4; forecast 56.2; previous 54.9;
- ISM Manufacturing PMI: actual 50.3; forecast 50.6; previous 50.9;
Very interesting, but also contradictory data. The huge jump in the price index is neutralized by the employment and new orders readings. This means that it is not possible to clearly determine whether the report is bullish or bearish for the dollar. Overall, we see that economic momentum is weakening, but price pressure remains high. However, in the first minutes, there is greater downward pressure on the USD.
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