S&P Global US PMI data to guide Fed policy, crypto traders eye rate signals

US business activity trends will come into sharp focus on Friday, as market participants analyze fresh data to gauge the strength of the world’s largest economy days ahead of the Federal Reserve’s policy meeting. S&P Global is set to publish its preliminary October Purchasing Managers Indices (PMIs) for the United States on Friday, five days before the Fed convenes for its highly anticipated policy decision. These indicators, which measure activity across the manufacturing, services, and overall private sectors, often influence expectations for the direction of interest rates and can ripple through equity and cryptocurrency markets.

Also reported by DailyCoin.

Source: CoinTurk News