US ISM Manufacturing PMI overview The Institute of Supply Management (ISM) will release its latest manufacturing business survey result at 1400 GMT this Monday. Consensus estimate point to a slightly lower reading of 59.5 for July, down from previous month’s four-month high level of 60.2. Deviation impact on EUR/USD Readers can find FX Street’s proprietary deviation impact map of the event below. As observed the reaction in case of a relative deviation of 0.81 or higher is likely to be in the range of 29-pips in the first 15-minutes and could stretch to 56-pips in the following 4 hours. Alternatively, a deviation of -0.73 or less could move the pair lower by 29-pips in the first 15-minutes and by about 64-pips in the subsequent 4-hours. The market reaction, however, is expected to be rather muted this time as investors might refrain from placing any aggressive bets ahead of the key event risk – the latest FOMC monetary policy decision, due to be announced later during the New-York trading session. How could it affect EUR/USD? Yohay Elam, FXStreet’s own Analyst explains, “1.1665 separated ranges in late July. Lower, 1.1620 was a trough in late July. Lower, 1.1575 was a low point in the middle of the month. The 2018 low of 1.1508 is next.” “1.1750 is a double top and also was a high point in mid-July. 1.1795 is the peak during July. Higher above we find 1.1850, the peak that was seen in mid-June,” he adds further. Key Notes “¢ How to trade the US ISM Manufacturing PMI with EUR/USD “¢ US: Manufacturer sentiment in July likely remained elevated – Nomura “¢ EUR/USD Technical Analysis: Spot struggled at the resistance short-term line around 1.1735 About the US ISM manufacturing PMI The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector. It is a significant indicator of the overall economic condition in the US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CAD seen stabilizing around 1.2922/17 – Commerzbank FX Street 5 years US ISM Manufacturing PMI overview The Institute of Supply Management (ISM) will release its latest manufacturing business survey result at 1400 GMT this Monday. Consensus estimate point to a slightly lower reading of 59.5 for July, down from previous month's four-month high level of 60.2. Deviation impact on EUR/USD Readers can find FX Street's proprietary deviation impact map of the event below. As observed the reaction in case of a relative deviation of 0.81 or higher is likely to be in the range of 29-pips in the first 15-minutes and could stretch to 56-pips in the following 4 hours.… Regulated 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.
