Here are the key factors to keep in mind today for US Dollar trades: US ADP Employment Report: Today’s ADP report will give an insight into what forex traders should expect from tomorrow’s NFP report. The NFP report will be released one day earlier as usual as the US will observe Independence Day on Saturday and markets will be closed on Friday. Expectations call for the addition of 218,000 jobs June. Forex traders can compare this to the 201,000 jobs which were added in May. US ISM Manufacturing Index: Forex traders will receive the ISM...
Here are the key factors to keep in mind today for Euro trades: Greece: The Greek government decided to hold a referendum and allow its people to decide on austerity. This was their democratic right and makes sense, but any vote will come after tomorrow’s deadline at which point the Greek government has to repay €1.3 billion and the current aid runs out. Greece could enter a technical default which has spooked Euro bulls. The Euro opened this week’s trading sessions down by over 200 pips as the announcement of the referendum has caused a...
Here are the key factors to keep in mind today for Euro trades: German Import Price Index: Expectations call for a monthly increase of 0.2% in the German Import Price Index in May and an annualized contraction of 0.4%. Forex traders can compare this to the 0.6% increase which was reported in April and the annualized contraction of 0.6% year-year-over-year. Germany is the biggest economy in the Eurozone and is often used as a barometer for the Eurozone. The ECB is watching inflation reports carefully after implementing quantitative easing....
Here are the key factors to keep in mind today for Gold trades: Japanese Small Business Confidence: Japanese businesses grew less confident in June as Small Business Confidence dropped to 46.9. Economists expected a small improvement in June to 48.3 from the 48.1 reported in May. Chinese Westpac-MNI Consumer Sentiment: Chinese consumers feel slightly more optimistic in June as compared to May. The Westpac-MNI Consumer Sentiment rose to 112.3 in June which can be compared to the 111.1 reported in May. Chinese Conference Board Leading Index...
Here is the key factor to keep in mind today for Euro trades: Eurozone PMI Report: This is the only economic report set for release out of the Eurozone today which means the impact will be magnified. It will be a welcome change from the news surrounding Greece and forex traders may put a greater amount of attention on this very important economic report which will give forex traders a first look at the overall Eurozone performance for June. Economists expect the Eurozone Composite PMI to come in at 53.5 in June, down 0.1 from the 53.6...