The US to Declare the ISM Manufacturing PMI

Investors, market analysts and traders associated with the US dollar quotes will be carefully tracking the changes in the ISM Manufacturing PMI that will be released by the Institute for Supply Management today at 15:00 GMT. The business conditions prevailing in the manufacturing sector of the country could be determined with the release of the indicator. Financial experts have predicted it to be 47.9 when the previous month's release was found to be 47.4. As the values are below 50, it will have a negative impact on the American currency. Henceforth, market participants are highly recommended to be alert during the release of ISM Manufacturing PMI.

Top economists are anticipating the indicator to remain in a declining zone in this latest release, along with ongoing inflation and rising interest rates. On the other hand, the services sector is more stable and is expected to remain in the expansion zone. According to analyst estimates, economists expect the ISM Manufacturing PMI, which has been in a cyclical recession to improve a bit to 48.0 from January 2022's 47.4 reports.

EIA Crude Oil Stocks Change of the week will be Revealed Today

The weekly release of the EIA Crude Oil Stocks Change will be done today at 15:30 GMT. Since the crucial indicator evaluates the number of barrels of commercial crude oil owned by the companies of the US, the traders who are associated with the oil and gas industry are suggested to monitor the changes in the indicator. Furthermore, EIA Crude Oil Stocks Change will be impacting world oil prices. 2.011 M is the forecasted statistic by the top economists when the previous release of the indicator showed them as 7.647 M. If there is an expected drop in the figure, it would indicate stronger oil demand and hence can have a positive impact on the oil barrel price.

Germany to Release its Consumer Price Index

The Federal Statistical Office of Germany will be releasing its CPI today at 13:00 GMT. Market participants who are trading in the euro quotes are advised to make a note of the changes in the readings of the indicator, as it will be impacting the values of the currency. Financial experts have forecasted it to be 0.9% when the previous release was found to be 1.0%. Even though the publishing of the CPI of Germany is considered medium-importance news coming from the prices sector of the market, it has to be observed carefully owing to the significance of the indicator. It is the prominent indicator of consumer market trends and inflation levels.

Governor of Bank of England Bailey to Deliver Speech

Market participants who are trading in pound sterling are recommended to observe the points discussed during the speech given by Andrew Bailey, the Governor of the Bank of England. It will be delivered today at 10:10 GMT at the Cost-of-Living Crisis Conference. It is suggested so as the clues regarding the monetary policy of the country will be included in the speech rhetoric. Traders could also expect significant comments about inflation, exchange rate and economy, besides the monetary policy of the BoE.