How could the most important manufacturing PMI affect the market?

t on Business, where the latest manufacturing business survey result is displayed, at 13:30 GMT this Wednesday.in the United States is anticipated to have edged up slightly to 48.0 in February from the 47.4 contraction registered in January.

The Employment Index is also seen a tad higher at 51.0 in the second month of the year while the New Orders Index for February is expected to rise to 43.7 vs. January’s 42.5. The data will provide a fresh update on the manufacturing sector activity amid rising borrowing costs and growing doubts about a potential ‘soft-landing’, especially after Monday’s US Durable Goods Orders declined by 4.50% in January, compared to the -4.0% expectations and December’s increase of 5.10%.

When will the ISM manufacturing Purchasing Managers’ Index report be released and how could it affect EUR/USD?Ahead of the key release, the US Dollar holds near multi-week highs, keeping the EUR/USD depressed near the 1.0600 mark.

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