Quote:
Originally Posted by thomask
Don't forget about ISM tomorrow. Terri, any thoughts?
-thomask
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Given the really weak Chicago PMI reading we saw this morning, I think there's potential for ISM Mnfctg to disappoint. There are a couple of things to watch, though: 1) Can it hold above 50? 2) Prices paid component 3) Employment component ahead of NFPs (though the ISM non-mnfctg employment component typically jives a bit better with NFP results).
Like I said, I think it will likely disappoint and the employment component may falter as well, however, a strong prices paid index could keep the headline reading above 50. Net result = $ bullish. However, I think EURUSD will consolidate near these records highs over the next two days, so any $ reaction to the data may be brief.
