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US manufacturing PMI may fall, but do the markets really care?

Mar 24 2020, 09:35 AM (+06) | ATFX

US manufacturing PMI may fall, but do the markets really care?

Next Friday, March 24, the prelim reading of US Manufacturing PMI will be released for March, as a continuation of the shocking state in the global economy, it is expected that we will witness further decline in the index reading. But to be more realistic, in the current circumstances, who cares?

The focus of the markets and investors around the world is now mainly on every news related mainly to Covid-19 virus. Tell me about the number of newly discovered cases, tell me about prevalence rates and outbreak areas, but do not talk to me about economic indicators now. naturally the markets will return to these traditional indicators later when the storm subsides.

The month of March recorded the largest acceleration in the outbreak of COVID-19 across the United States until now, to the extent that the US administration declared New York State a disaster area, in addition to the increasing cases in each state. And we are witnessing every day new developments in the situation constantly regarding government procedures and policies that clearly indicate to what extent that the performance of companies in such times is unstable.

 

In addition to the consumer confidence survey data, the release of the "Initial" PMI for March is expected to indicate the performance of the industrial sector and will provide insight into the extent and depth of the turmoil.

If we look at the services sector, which already showed signs of turmoil in February after the decrease in demand for services related to tourism in particular. Closures across Europe that have spilled over into the United States and the travel ban may exacerbate difficult demand conditions across both the manufacturing and services sectors in March, with many closing their doors and asking employees to work from home wherever possible.

Accordingly, it is expected that the index reading will witness a decline, but according to the depth and severity of these declines, the reaction of the markets will differ.

Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : The Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

ATFX

About ATFX A global award-winning forex broker, ATFX was established with the aim of providing a robust online trading platform for retail traders interested in trading, forex, cryptocurrency, precious metals and energy CFDs and. Today, the company, headed by an elite management team, has a global presence and offers a wide range of trading products. To ensure a seamless trading experience, the company offers MetaTrader 4, the most popular trading platform in the world, while connecting MT4 with the top liquidity providers with the latest bridging technologies. Due to its client-focus, ATFX also offers free access to market research, courses for all levels of trading, from novices to advanced levels, 24/5 live help and customer support, and highest level of protection for traders. Awards The outstanding performance of ATFX in our services have gained recognition from the market. During the year under review, the brand achieved over 20 international awards in 2018, included FX Broker of the Year, UK, Fastest Growing Forex Broker, Europe and Best Trader Education Service Provider. It regarding service, trading instruments, and the development in recognition of its commitments to excellent service to traders in corporate governance. Staffs are ATFX’s most valuable asset With close to 400 employees in offices around the globe, it aims to establish a strong footprint. ATFX now has websites in multiple languages tailored to each of the regions it serves and aims to provide the best-in-class products and services. From its user-friendly online trading platform to its multi-lingual customer support, offered by skilled and experienced professionals, ATFX takes pride in providing a safe and easy trading environment along with prompt help in the language that local traders (e.g. Europe, China, Southeast Asia …) are most comfortable in. Investors Education Following nearly 500 seminars that were successfully held during the last 12 months. ATFX has continued its principled commitment of educating its investors by conducting a series of seminars across the world, which are free and educate its participants about various trading techniques and helps learn the basics of risk management. It looks to provide a holistic service which includes the trading platform, along with a team of skilled and experienced professionals, allowing clients to gain access to comprehensive trading services. Website:www. atfx.com Hotline: 0080 112 7901 [email protected] [email protected] Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent& the Grenadines.
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