Price probed below the hourly uptrend line at 1.3635 but failed to close to hour below and has bounced back above - now uesing this as an hrly pivot. Hourly studies are neutral and lack a clear direction. The daily charts are mixed. Friday"s price action closed back near the open close to the lows of the day which represents indecision in the market.
Finotec Analysis Team 04 September 2007
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Today's Economic Events
Time
Event
Currency
Period
Previous
Forecast
Significance
Actual
14:00
ISM Manufacturing Index
USD
Aug
53.8
53.2
ISM Manufacturing Index
The Institute of Supply Management (ISM) Manufacturing Index measures the activity level of purchasing managers in the manufacturing sector, with a reading above 50 indicating expansion. A rising trend has a positive effect on the nation's currency. To produce the index, purchasing managers are surveyed on a number of subjects including employment, production, new orders, supplier deliveries, and inventories. Traders watch these surveys closely because purchasing managers, by virtue of their jobs, have early access to data about their companyӳ performance, which can be a leading indicator of overall economic performance.
14:00
ISM Manufacturing Prices
USD
Aug
65.0
63.1
ISM Manufacturing Prices
The Institute of Supply Management (ISM) Manufacturing Prices measures the monthly inflation experienced by manufacturing organizations when purchasing materials and services
14:00
Construction Spending m/m
USD
Aug
-0.3%
0.0%
Construction Spending m/m
Measures the total amount spent by builders on public and private construction projects.
09:00
PPI m/m
EUR
Jul
0.1%
0.1%
0.3%
PPI m/m
The Producer Price Index (PPI) measures the rate of inflation (i.e., the rate of price changes) experienced by manufacturers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. When manufactures pay more for goods and services, they are likely to pass the higher costs to the consumer, so PPI is thought to be a leading indicator of consumer inflation. PPI is highly regarded, and at extremes will have a market impact equal to that of its CPI counterpart.
09:00
GDP q/q
EUR
Quarterl
0.3%
0.3%
0.3%
GDP q/q
Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy.
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