Reports: ISM Non-Manufacturing Purchasing Managers' Index (PMI)
This is a monthly report by the institute for Supply Management (ISM)
Basically, provides a look into economic health of the U.S services sector, which includes industries such as finance, healthcare, retail, and professional services.
The four key subcomponents are Business activity, new orders, employment, and supplier deliveries.
We are looking for a score over 50 which represents expansion in the services sector, and you guessed it below 50 indicates contraction.
The last report was 51.6 up from 50.8 in March that shows modest expansion in services sector.
How does it relate to USD/JPY:
This significantly influences this currency pair due to it being a leading indicator of U.S. economic health
A score above 51.6 would show more expansion the forecast is currently 52 there is a possibility this could make the dollar more attractive to investors compared to yen and increase price.
Why? If yields on U.S. Treasuries increase, it could make the dollar more attractive to investors compared to yen
A score above 50 but lower than 51.6 concerns me
Targets:
Buy: 144.780 (open and close above)
Sell: 143.655 (open and close below)
If you took the call from yesterday and are still in trade, be sure to protect your position anything can happen, and we want to lock in profits.
This is a monthly report by the institute for Supply Management (ISM)
Basically, provides a look into economic health of the U.S services sector, which includes industries such as finance, healthcare, retail, and professional services.
The four key subcomponents are Business activity, new orders, employment, and supplier deliveries.
We are looking for a score over 50 which represents expansion in the services sector, and you guessed it below 50 indicates contraction.
The last report was 51.6 up from 50.8 in March that shows modest expansion in services sector.
How does it relate to USD/JPY:
This significantly influences this currency pair due to it being a leading indicator of U.S. economic health
A score above 51.6 would show more expansion the forecast is currently 52 there is a possibility this could make the dollar more attractive to investors compared to yen and increase price.
Why? If yields on U.S. Treasuries increase, it could make the dollar more attractive to investors compared to yen
A score above 50 but lower than 51.6 concerns me
Targets:
Buy: 144.780 (open and close above)
Sell: 143.655 (open and close below)
If you took the call from yesterday and are still in trade, be sure to protect your position anything can happen, and we want to lock in profits.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.