US ISM Manufacturing Index is due Wednesday – the numbers to watch

<p>The ISM manufacturing index has been in contraction the last 13 months</p><ul><li>the consensus expected today is 47.1</li><li>it came in weaker than expected in November at 46.7</li></ul><p>Its due at 10am US Eastern time. Note the Federal Open Market Committee (FOMC) minutes are due later in the session, at 2pm.</p><p>The range of estimates for the headline number is 45.6 to 48.1. A result outside of this range should prompt larger market moves:</p><ul><li>lower than 45.5 will fuel chatter of Fed rate cuts sooner and deeper, which should assist risk trades</li><li>on the other hand, a result above 48.1 will prompt chatter of cuts not coming as quickly and as deeply as expected</li></ul><p>—</p><p>Goldman Sachs are looking for 46.9:</p><ul><li>reflecting the rebound in East Asian industrial activity but weakness
in other business surveys</li><li>

Our GS manufacturing
tracker fell 0.9pt to 49.1</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.