Sweden PMI - Manufacturing

Fx News Spike Signals by Crazy Cat, 2018/02/01

Release Time: 02:30 New York time (EST)
Primary currency pair: EUR/SEK, USD/SEK
Forecast: 61.0
Prior: 60.4
LT1 (Lower Trigger 1): -3.5 [BUY]
UT1 (Upper Trigger 1): +3.5 [SELL]

If SE Manufacturing PMI comes out at 57.5 or less ( -3.5 trigger), USD/SEK should go up by about 110 pips. If it comes out at 64.5 or better ( +3.5 trigger), USD/SEK should go down by about 110 pips.

There are only three estimates. Median estimate is 61.0 and the average estimate is 61.5. The highest estimate is 63.6 (one vote), then 61.0 (one vote), and finally 60.0 (one vote).

In the past it looks like sometimes it performs relatively well but it's not guaranteed. On a quite few occasions the price action wasn't so great. It will also depend on your broker. Some brokers may raise spreads to 200 or higher, whereas some others may offer low fixed spread. EUR/SEK and USD/SEK perform very similar 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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