On 23rd 2020, Euro will be releasing their

  • French Flash Service and Manufacturing PMI at 1515 (SGT)
  • German Flash Service and Manufacturing PMI at 1530 (SGT)
  • Flash Service and Manufacturing PMI at 1600 (SGT)

The Flash Purchasing Managers’ Index (PMI) is a leading indicator of the economic health based on businesses reaction to market condition after 3 weeks into the current month. Currently, economist are optimistic that the Euro Flash Service and Manufacturing PMI will perform better than the previous month.

However, on 21st Sep 2020, an unscheduled speech by ECB President Christine Lagarde was conducted to address her pessimism on Eurpoean Economy strength. President Christine Lagarde spoke that she is not optimistic on the recovery of Euro despite the recent positive economic data indicating a strong recovery from the second quater of 2020.

If the EUR Flash PMI numbers released are better than the previous month, look for a short-term buy for EUR/GBP.

Potential Trade Set-Up
Entry: 0.9160
SL: 0.9120 (40 pips)
TP: 0.9250 (90 pips)

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By Lewis

Lewis is a part-time Forex Trader and currently interning in LCMS Traders Club while pursing his BEng at the same time. Lewis is specialized in Day-Trading across major currency pairs and conduct fundamental analysis in forextradingasia.

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