Today we have the Institute of Supply Management, Purchasing Manager’s Index report at 1400 GMT. This report has information detailed by purchasing managers and it contains clues on the company’s view of the economy.
ISM Manufacturing PMI 14:00 GMT.
- A small gain to 55.7 is expected today with moderate expansion.
- The empire state manufacturing survey rose to 19 from 1.3.
- Manufacturing sector activity moved up to 54.9 in April from 53.7 in March.
- First quarter weakness was explained by diminishing inventories and lower exports, yet the new export orders index suggested that exports should show an improvement.
- The employment sub index fell to 51.3 from 53.6 which gives clues about NFP- indicates private payroll growth would trend at around 130,000.
- Banc de Binary analysts predict that given recent optimism, the ISM report will show a moderate increase indicating a potential upward movement in the USD/JPY.