When is the US ISM Manufacturing PMI and how could it affect EUR/USD?

US ISM Manufacturing PMI overview

The Institute of Supply Management (ISM) will release its latest manufacturing business survey result at 1400 GMT this Monday. Consensus estimate point to a slightly lower reading of 60.3 for September, down from previous month's a 14-year high level of 61.3.

Deviation impact on EUR/USD

Readers can find FX Street's proprietary deviation impact map of the event below. As observed the reaction in case of a relative deviation of +0.81 or higher is likely to be around 29-pips in the first 15-minutes and could stretch to 56-pips in the following 4 hours.

Alternatively, a deviation of -0.73 or less could move the pair higher by around 25-pips in the first 15-minutes and 57-pips in the subsequent 4-hours.

How could it affect EUR/USD?

Yohay Elam, FXStreet's own Analyst explains, “1.1530 was a triple bottom in August and September and is next down the line. 1.1495 was a swing low when the EUR/USD was moving higher, and 1.1445 is next.”

“Looking up, 1.1605 supported the EUR/USD in mid-September. It is followed by 1.1650 which was a stubborn support line in mid-late September. 1.1720 was a clear separator of ranges, supporting the pair just before the recent fall,” he adds further.

Key Notes

   •  US: ISM Manufacturing to correct to 60.3 in September - TDS

   •  EUR/USD keeps gains above 1.1600, US ISM eyed

   •  EUR/USD path of least resistance is down, 1.1480 eyed – Confluence Detector

About the US ISM manufacturing PMI

The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector. It is a significant indicator of the overall economic condition in the US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish).