United States ISM Manufacturing figures have consistently increased since December.
In January the ISM’s (Institute for Supply Management) index hit a 9 month high of 53.1. According to Bloomberg, a reading of 52.5 is projected for Friday.
“The market, including investors in Europe, will all have their eyes on the U.S. economic data coming out later today including income and spending figures for January, in addition to the important ISM Manufacturing figure,” Peter Garnry at Saxo Bank said. “We expect good numbers from the U.S. and that could be the catalyst for a bounce-back later today.” (MarketWatch)
This let’s us know that investors, economists, and probably banks are going to have a close eye on this manufacturing release today.
Bernanke Speaking Friday Night
After two days of intense Fed action this week, the Federal Reserve Chairman will present a speech at the Federal Reserve Bank of San Francisco Friday.
He will speak on “Low Long-Term Interest Rates”.
This week has most definitely been an exciting and volatile one. Share any trade ideas or testimonies below.
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