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When is US ISM Manufacturing PMI data for April and how could it affect EUR/USD?

The article previews the US ISM Manufacturing PMI for April (due 14:00 GMT) and discusses implications for EUR/USD. Consensus is for a modest improvement in manufacturing activity (PMI 53 vs. 52.7 prior); stronger-than-expected prints could bolster the USD by increasing Fed rate-hike expectations, while softer data would reduce hawkish bets. Elevated ISM Prices Paid (est. 80.0) — driven by higher energy costs from Strait of Hormuz disruption — and the Employment Index (est. 49.0) are highlighted. EUR/USD trades around 1.1750, above the 20-day EMA (~1.1703) with RSI ~56, indicating a constructive bullish bias. Key technical levels: resistance near 1.1825, then 1.1938 and 1.2082; support at the 20-EMA (1.1703), 1.1666, and 1.1567. Traders should watch the PMI headline and subcomponents for near-term USD direction and EUR/USD positioning.

Category

EUR/USD

Sentiment

Bullish

Event

Market commentary

Reading time

1 min