What is Expected
Time of release: 10:00EST; 15:00GMT 3/01/2007
Consensus expectation: 50.0
Prior reading : 49.3
Primary Pair Impact[B] : EURUSD
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How To Trade This?
As always, the general rule of thumb in trading event risk is to wait at least 5 minutes before putting the trade on in order to observe if the market price responds to the fundamentals. In the case of the ISM Manufacturing, event risk traders should note the structure of the candle if it contains a very long wick, price continuation may not occur. Additionally, whether the reading falls below/rises above the 50 level is crucial as it notates expansion or contraction in the sector and can potentially exacerbate the amplitude of price action.