Flash PMI Tomorrow – Why traders care? + Levels for June 23rd
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Flash PMI tomorrow!
What is it?
Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry;
Why Traders Care? 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;
Derived Via Survey of about 800 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories
Purchasing Managers’ Index (PMI);
More on how to trade during economic reports HERE
Quick video on the difference between TOP of the BOOK ( level 1 ) and Level 2 quotes below
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