Just to summarise quickly what the ‘Purchasing Manager Index’ is, it’s a monthly data release by the ISM. PMI data is based on 5 survey areas: new orders, inventory levels, production, supplier delivery & employment.
PMI data ranges from 0-100. A PMI reading ABOVE 50 represents expansion in the economy. Whereas, a reading BELOW 50 represents contraction.
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In the next following days I am going to work on a full education course designed for understanding the fundamentals behind Forex market and at the same time showing how it can be used for days trading using fundamental news strategy.
Our first lesson : U.S. ISM Manufacturing Purchasing Managers Index (PMI)
Understanding the ISM Manufacturing PMI and...