The latest US ISM Manufacturing Report on Business is warning of a recession in the US and components within the report are signalling a deterioration in US GDP from this month into the end of the year. Meanwhile, the new JPMorgan Global Manufacturing PMI shows the recession risk is global
Join me as I break down the latest macro data warning of a Global Recession, outline the major Risk Off Quantitative signal that triggered yesterday (and signalled the Top in the SP500 in July) as well as highlight the Monthly Targets for the SP500, Nasdaq, Dow Jones and Russell 2000
CFDs & FX are leveraged products that incur a high level of risk and can result in the loss of all your capital and may therefore not be suitable for all investors. You should not risk more than you are prepared to lose and before deciding to trade, please ensure you understand the risks involved, take the level of your experience into consideration and seek independent advice if necessary. By using information here, or elsewhere, provided by Get Me Trading, all persons agree not to hold Get Me Trading, or any agents of Get Me Trading, liable for their own trading performance or the performance of others.
Recommended Content
Editors’ Picks
![EUR/USD holds near 1.1100 after mixed US data](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/dollar-and-euro-bills-58059534_XtraSmall.jpg)
EUR/USD holds near 1.1100 after mixed US data
EUR/USD struggles to hold above 1.1100 in the American session on Thursday. The US Dollar holds its ground following the mixed macroeconomic data releases as investors refrain from taking large positions ahead of Friday's jobs report.
![GBP/USD stays above 1.3150 as markets assess US data](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/GBPUSD/new-style-twenty-pound-notes-3079195_XtraSmall.jpg)
GBP/USD stays above 1.3150 as markets assess US data
GBP/USD continues to trade in positive territory above 1.3150 on Thursday. After weakening against its rivals on weak ADP employment data, the US Dollar finds a foothold on upbeat Jobless Claims and ISM Services PMI data, limiting the pair's upside.
![Gold extends recovery toward $2,520 area](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/stack-of-golden-bars-in-the-bank-vault-60756080_XtraSmall.jpg)
Gold extends recovery toward $2,520 area
Gold extends its rebound and trades near $2,520 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield stays in the red below 3.8% after mixed data releases from the US, supporting XAU/USD.
![Crypto Today: Bitcoin, Ethereum attempt recovery from recent dip, XRP loses key support and slips to $0.54](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Bitcoin/Bitcoin_Book_XtraSmall.jpg)
Crypto Today: Bitcoin, Ethereum attempt recovery from recent dip, XRP loses key support and slips to $0.54
Bitcoin and Ethereum attempt recovery from the decline earlier this week, BTC is back above $57,000 and Ether hovers around $2,400. XRP loses key support and slips to $0.54 on Thursday. Former CEO of defunct exchange Mt.Gox prepares to launch EllipX in Europe.
![ADP Employment Change Preview: US private sector expected to add 145K new jobs in August](https://editorial.fxstreet.com/images/Macroeconomics/EconomicIndicator/Employment/employment-51256484_XtraSmall.jpg)
ADP Employment Change Preview: US private sector expected to add 145K new jobs in August
ADP Employment Change is forecast to arrive at 145,000 in August. Labor market conditions could influence the Fed’s policy outlook. The US Dollar stays resilient against its rivals after posting large losses in August.
![Moneta Markets review 2024: All you need to know](https://editorial.fxstreet.com/images/IT/Testing/Review/FXSBadgeCertifiedBackg_XtraSmall.png)
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.