Most important economic news for today:
USA ISM Manufacturing will be released at 15:00 server time. Market impact: High (USD). Previous number: 53.1. Forecast number: 52.5.
The ISM Manufacturing Survey is valued for its timeliness, and indeed, during waning boom cycles analyst point out that ISM tends to be one of the biggest market moving economic releases. The reasoning lies within the ISM's Prices Paid and Employment subcomponents. These components reflect sentiment towards inflation and labor conditions - two of the market's most significant health indicators. Given that the ISM's timeliness, the information gleaned from such components precedes other market data (like Non-Farm Payrolls or CPI), making the ISM a significant indicator.