3rdJanuary 2024
Wednesday
On Wednesday,January 3, 2024, the United States is scheduled to release high-impact economicdata, including the ISM Manufacturing PMI and JOLTS Job Openings, alongside theminutes from the Federal Open Market Committee (FOMC) meeting.
USD - ISM Manufacturing PMI
As a foremostindicator of economic vitality, businesses respond rapidly to marketconditions, with purchasing managers possessing the most immediate andpertinent insights into a company's perspective on the economy.
In November2023, the ISM Manufacturing PMI in the United States held steady at 46.7,consistent with October's reading yet below the anticipated 47.6, signifying acontinued contraction in the manufacturing sector. Companies adeptly adjustedtheir output in response to sustained softness in orders, with productionfalling into contraction at 48.5 (a decrease from 50.4) and employmentdeclining to 45.8 (from 46.8). The Supplier Deliveries Index dropped to 46.2,indicating faster deliveries for the fourteenth month in a row. The rates ofdecrease in new orders and inventories slowed to 48.3 and 44.8, respectively,and a slight reduction in prices to 49.9 (from 45.1) pointed to stabilizingcosts amid fluctuating energy and steel markets. The decrease in manufacturingsupplier lead times is also viewed as a positive sign for future economicactivity.
TL;DR
Indicator
November 2023 Value
Change from Previous Month
1 Overall ISM Manufacturing PMI
46.7
No change (same as October)
2 Production Index
48.5
Decrease from 50.4
3 Employment Index
45.8
Decrease from 46.8
4 Supplier Deliveries Index
46.2
Indicates faster deliveries
5 New Orders
48.3
Rate of decrease slowed
6 Inventories
44.8
Rate of decrease slowed
7 Prices
49.9
Decrease from 45.1, stabilizing costs
The projectedfigure for the upcoming ISM Manufacturing PMI is 47.1, marginallyhigher than the preceding value of 46.7.
The next ISM Manufacturing PMI isset to be released at 3:00 PM GMT on January 3, 2024.
The last time, the US ISM Manufacturing PMI wasannounced on the 1st of December, 2023. You may find the marketreaction graph (USDJPY M5) below:USD - JOLTS Job Openings
Despite thepublication delay, this data garners significant attention from traders becauseof its potential to notably influence market dynamics. The count of jobopenings serves as a preliminary gauge of the overall employment landscape,highlighting its critical importance for market participants.
The U.S. Bureauof Labor Statistics announced in October 2023 that job openings declined to 8.7million by month's end, leading to a job openings rate of 5.3%, a drop of 0.3percentage points. Significant shifts occurred in sectors like health care,social assistance, finance, insurance, and real estate, all witnessing adecrease in openings, while the information sector saw an increase. The numberof hires remained steady at 5.9 million, and total separations, encompassingquits, layoffs, and other types, showed minimal variation. This data offersvaluable insight into labor market trends, highlighting changes in jobavailability and workforce stability.
TL;DR
Indicator
October 2023 Data
Change from Previous Data
1 Job Openings
8.7 million
Decrease
2 Job Openings Rate
5.3%
Decrease of 0.3 percentage points
3 Notable Sector Changes
Health care, social assistance, finance, insurance, real estate (Decrease)
Information sector (Increase)
4 Hires
5.9 million
Steady
5 Total Separations
Not specified, minimal variation
Steady
The forecast forthe JOLTS Job Openings indicates an anticipated rise from 8.73million to 8.8 million.
The upcoming JOLTSJob Openings report is scheduled for release at 3:00 PM GMT on January3, 2024.
The last time,the US JOLTS Job Openings report was announced on the 5th ofDecember, 2023. You may find the market reaction graph (GBPUSD M5) below:
USD - FOMC Meeting Minutes
The record of the FOMC's latest meetingoffers comprehensive insights into the economic and financial circumstancesthat shaped their decision-making process regarding the setting of interestrates.
The FOMC Meeting Minutes arescheduled for release at 7:00 PM GMT on January 3rd, 2024.
The last time the US FOMC Meeting Minuteswas released on the 21st of November, 2023. You may find the marketreaction graph (GBPUSD M5) below:
