Events · PMI
PMI (Purchasing Managers' Index), explained.
A survey of purchasing managers about new orders, output, jobs and prices. Above 50 means expansion, below 50 means contraction.
Why it moves markets
It's one of the earliest monthly readings on the economy, so a big surprise can move a currency before harder data arrives.
Who publishes it, and when
S&P Global, ISM (US) and others; Absa PMI in South Africa. Monthly. 'Flash' estimates come out near month-end, final figures early the next month.
Pairs that often react
EUR/USDGBP/USDAUD/USDUSD/JPY
Pairs that include the currency involved usually react most. How much and in which direction depends on the surprise against expectations and on everything else going on. This isn't a prediction.
Educational only. Not advice and not a signal. Spreads often widen and prices can gap around big releases.