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It’s Labor day in Europe, so trading will be thinner than usual. But this May 1st still offers some interesting figures, such as British  Manufacturing PMI and American  ISM Manufacturing PMI. Let’s see what’s up for today:

Japanese  Average Cash Earnings start the day, with an expected fall of 2.7%. Later in Australia,  Commodity Prices  will be published. Commodities are important for the Australia economy.

In Britain,  Manufacturing PMI will draw attention. Expectations are for a rise from 39.1 to 40.2.  Net Lending to Individuals is expected to rise from 1.3 billion to 1.6 billion. Also in Britain,  Mortgage Approvals are expected to rise from 38K to 39K. If all these predictions come true, GBP/USD may push above 1.50.

In the US,  Revised UoM Consumer Sentiment isn’t expected to change since the early record, and stay at around 61.9. Factory Orders are expected to show a fall this time – by 0.7%.

The main figure for today is the  ISM Manufacturing PMI which is expected to improve from 36.3 to 38.4. As mentioned in the FOMC Statement, the American economy is showing modest signs of recovery.

That’s it for today. Happy Forex Trading!