The next 24 hours are front-loaded around one release: the US ISM Manufacturing PMI. A pair of Swiss inflation prints fills out the earlier part of the session.
United States (USD)
The ISM Manufacturing PMI lands at 14:00 UTC and carries the session’s highest impact. The index gauges activity across the US manufacturing sector, with a reading above 50 signalling expansion. Forecast is 54.0, up from the previous 53.3.
Released alongside it at the same time, the medium-impact ISM Manufacturing Prices index tracks input cost pressures paid by manufacturers β a component watched for inflation read-through. Forecast is 70.0, down from 73.0 prior.
Both prints matter for the dollar, and their simultaneous release at 14:00 UTC makes that the clear focal point of the day.
Switzerland (CHF)
Earlier, at 06:30 UTC, Switzerland reports CPI m/m, a medium-impact gauge of the monthly change in consumer prices. Forecast is -0.1%, versus 0.0% previously β pointing to a slight monthly decline. The release is the one item on the docket for the franc.
What to watch
The 14:00 UTC ISM double-header is the session’s main event; the Swiss CPI is the early marker for the franc.
