In this episode, Mike and Rory talk about the importance of using leading indicators when trading. Rory mentions 3 of the latest that he has been looking at Including the ISM Manufacturing, ISM Services and the ESR report.
The ISM reports can give a great indication of how both the manufacturing side of the economy and the services are reacting. They give their own indication of prices and employment as Rory mentions how they can be used to predict the NFP report.
Mike talks about how traders heavily rely on the Non-Farm Payrolls report released on the first Friday of each month and shares his insights into how to trade it correctly.
The blokes then briefly mention how you can use leading indicators such as ISM to predict larger indicators such as GDP and remain 1 step ahead of the market.