Economic calendar · All
PMI: what it is and how to trade it
Surveys of purchasing managers in manufacturing and services. Above 50 means expansion.
What it measures
Surveys of purchasing managers in manufacturing and services. Above 50 means expansion.
How traders handle it
A move across the 50 line gets attention because it signals a change in direction.
Price reacts to the surprise: the actual number minus the forecast. A great number that everyone expected can move nothing at all.
Reading it on the calendar
Each event shows an impact level, the previous figure, the forecast and, once released, the actual. Compare actual with forecast, and watch for revisions to the previous figure.
Frequently asked questions
When is PMI released?
Start of each month; flash estimates late in the prior month.
Which pairs move most on PMI?
EUR, GBP, USD, AUD and CNY-linked pairs.
How should beginners trade it?
Most beginners should be flat or protected before the release, then wait 15–30 minutes and trade a clean break of the release candle's range. Read Trading the News.
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How to survive (and sometimes profit from) big releases.