27.11 - USD is growing ahead of American markets closing for the week
- by Anna K.
Today is the last day of trading for all the USA traders – tomorrow all of them are going to go on to celebrating Thanksgiving and the markets are only going to open on Monday. And of course, not only does that mean that American stock market is not going to be available for trading, but that USD trading activity is going to be much lower, as the most active hours of trading it are those, when American market is open. But, the fact that today is going to be somewhat relaxed doesn’t change the fact that today we have to face Chicago PMI report – a report that can have a major impact on USD.
It's a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold the most current and relevant insight into the company's view of the economy. And today we are going to learn what do Chicago companies think about the purchasing and paying power of their own businesses. This is pretty important, as Chicago is one of the biggest and most important cities in the whole USA and health of businesses there coincides with how businesses in smaller towns feel and operate. And USD power fully depends on whether or not businesses are willing and ready to pay up taxes.
This is Chicago Business Barometer, and it has a very strong influence on the overall health of USD. And we have to be very careful with the greenback around the time PMI is going to come around.
Use your trading signals to follow the performance of your favorite USD-involving couples.