Influence of Chicago PMI in Forex market
This indicator is collected from an examination of purchasing managers in Chicago and contains data about the prices of the products manufactured and their reserves in warehouses. If the index volume goes below the level of 45 units it means that there are some negative shifts and the pace of economic development has reduced. A growth in the Chicago PMI often leads to an increase in the USD. The Chicago PMI is very strong factor for the Forex market as it makes the ground for the NAMP (see below) release predictions. It is published on the last day of every month at 10:00 EST (New York).
Written by FxErvin