Markit introduced a manufacturing purchasing managers’ index for the US. This is the first time the company publishes data for the world’s No. 1 economy. The initial figure for May stands at 53.9 points. Final data will be released in the future. This figure is published before the end of the month and before the ISM figures which are released on the first days of the following month, and usually serve as indicators for the Non-Farm Payrolls. Markit also released a figure for April: 56. So, the initial figure for May points to a slowdown in manufacturing growth. This is the slowest in 3 months. A score of 50 points is the balance between growth and contraction. It’s important to note that the US economy leans heavily towards the services sector rather than the manufacturing one. Markit’s initial PMI data for the euro-zone was quite disappointing – Germany’s manufacturing sector is slowing down quite fast, and this indicates a clear contraction in Q2. What happens now is that the publication was a trigger for a leap in EUR/USD. The culprit seems to be a move in EUR/CHF, which leaped from its sleep just above the 1.20 floor and reached 1.2050 within seconds. It could be some move by the SNB. The pair is now retreating, back to 1.2020. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next 4 Patterns for Forex Profitability Yohay Elam 10 years Markit introduced a manufacturing purchasing managers' index for the US. This is the first time the company publishes data for the world's No. 1 economy. The initial figure for May stands at 53.9 points. Final data will be released in the future. This figure is published before the end of the month and before the ISM figures which are released on the first days of the following month, and usually serve as indicators for the Non-Farm Payrolls. Markit also released a figure for April: 56. So, the initial figure for May points to a slowdown in manufacturing growth. This is… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
