What is it? It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy. A Survey of about 500 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.
When? At 03:30am Eastern time.
Trading Tip: If the actual number is higher than the forecast, you can expect the EUR to rise.
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