Norway PMI - Manufacturing


Fx News Spike Signals by Crazy Cat, 2019/05/02

Release Time: 03:00 New York time (EST)
Primary currency pair: EUR/NOK, USD/NOK
Forecast: 56.8
Prior: 56.8
LT1 (Lower Trigger 1): -3.5 [BUY]
UT1 (Upper Trigger 1): +3.5 [SELL]
Safety: 10

If NO Manufacturing PMI comes out at 53.3 or less ( -3.5 trigger), USD/NOK should go up by about 150 pips. If it comes out at 60.3 or better ( +3.5 trigger), USD/NOK should go down by about 150 pips.

There are only seven estimates. The median estimate is 56.8 and the average estimate is 56.7. The highest estimate is 57.5 (one estimate), then 57.3 (one vote), then 57.2 (one vote), 56.8 (one vote), 56.5 (one vote), 56.0 (one vote), and finally 55.7 (one estimate).

This report sometimes performs quite well and sometimes not so well. Just like with Swedish reports, it will depend on your broker a lot. Some brokers may raise spreads to 200 or higher, whereas some others may offer low fixed spread. EUR/NOK and USD/NOK perform very similarly so check with your broker to see which one is better to trade.

Obviously, if your broker widens spreads to very high values, then you should skip this report. Otherwise, you may give a try, but please be very conservative with your trade sizes.

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