The US to Publish its ISM Non-Manufacturing PMI for March

The announcement about the ISM Non-Manufacturing PMI of the US will be watched by market participants from all over the globe. The indicator that shows the activity in the US service sector will be released by the Institute for Supply Management today at 14:00 GMT. Financial experts are expecting it to be 55.2. When the ISM Non-Manufacturing PMI was released on 3rd Mar 2023 at 15:00 GMT, it stood at 55.1 instead of the forecasted 52.4. Since these figures are above 50, it will have a favourable impact on the American currency.

EIA Crude Oil Stocks Change of the Week to be Released Today

The US Energy Information Administration will be publishing the EIA Crude Oil Stocks Change today at 14:30 GMT, and this high-importance economic news should be noted as it impacts world oil prices. Market participants who are related to the oil and energy sector of the market are suggested to be alert during the announcement of the indicator, which is predicted to have an increase of 0.146 M. Moreover, when the EIA Crude Oil Stocks Change was declared on 29th Mar 2023 at 14:30 GMT, it was -7.489 M. If there is a rise in the crude oil stocks, it will have an unfavourable effect on the price of oil barrels.

Announcement of Trade Balance of the US

The Trade Balance of the US will be declared by the Census Bureau today at 12:30 GMT. Financial experts have estimated it to be $​-67.941 B and when the indicator that measures the difference between the imports and exports of the US in monetary terms was revealed on 8th Mar 2023 at 13:30 GMT, it stood at $​-68.289 B. Market participants will be suggested to be alert during its announcement, especially those associated with the trade sector and trading in the US dollar quotes. Furthermore, the negative value indicates a trade deficit and a positive surplus.

ADP Nonfarm Employment Change to be Disclosed

Even though the publishing of the ADP Nonfarm Employment Change is shown as high-magnitude news, it may not have much impact on the market. The indicator that represents the monthly employment change of 19 US manufacturing sectors is expected to have an increase of 10K. Also, when it was disclosed on 8th Mar 2023 at 13:15 GMT, it stood at 242 K. A favourable impact will be experienced by the American currency if there is a rise in the statistics.

Speech to be Delivered by the MPC Member of BoE

As per the sources from the Bank of England, its MPC member Silvana Tenreyro will be giving a speech today at 09:15 GMT. Market participants who are trading in pound sterling are recommended to observe the talk with great attention as it comprises hints about the possible direction of the monetary policy.

Germany to Release its S&P Global Services PMI

The announcement of the S&P Global Services PMI of Germany will be made today at 07:55 GMT and the market participants who are trading in the euro quotes are recommended to make a note of the changes in the readings of the indicator. It is said so as the indicator will represent the conditions of doing business in the service sector. Top economists are expecting it to remain at 53.9. The figures above 50 will have a positive impact on the euro quotes.

Industrial Production in France was Unveiled Today

Its release is considered medium-importance news and the market participants are expected to consider this release before taking any market decision. When the National Institute of Statistics and Economic Studies revealed the Industrial Production of France, it stood at 1.2% instead of the anticipated 0.0%. Since there is a rise in the figures, it may have a positive impact on the euro quotes.

Factory Orders of Germany was Announced

The Federal Statistical Office of Germany disclosed its Factory Orders today at 06:00 GMT. In place of the forecasted figure of -10.5%, the indicator stood at -5.7%. When there is a rise in the value of the Factory Orders, there will be an expansion in the economy of Germany, besides the positive impact felt by the euro quotes. Therefore, the market participants who are trading in the currency are suggested to consider this result before making any crucial market decision.