🟢 Macro Update In approximately one hour, shortly after the US open, we get ISM Manufacturing PMI. 🔹 Consensus: 55 🔹 Previous: 54.6 Yesterday’s combination of softer-than-expected Core PCE and resilient economic activity created a relatively constructive macro backdrop. A solid ISM print today could reinforce the soft-landing / resilient-growth narrative and support risk appetite. But be careful with interpreting the headline alone. ‼️ A very strong print, particularly if accompanied by renewed price pressures, could also push yields higher and revive concerns about additional Fed tightening. 👉 Once again: don’t trade the number. Trade the market’s interpretation of the number. Give the market some time after the release and watch US yields, DXY, equities and BTC before committing. NFA. DYOR⚡️