Here are the key factors to keep in mind today for US Dollar trades: US New York Empire Manufacturing Index: Economists predict a turnaround in the New York Federal Reserve manufacturing region for May. Expectations call the Empire Manufacturing Index to increase to a level of 5.00. Forex traders can compare this to the level of -1.19 reported in April. A level above 0.00 translated to an expansion in manufacturing while a level below 0.00 means that the regional manufacturing sector contracted. US Industrial Production/US Manufacturing...
Here are the key factors to keep in mind today for Euro trades: Eurozone GDP Report: A very important economic report will be released today and forex traders should take note of the data which will be released today. Economists expect the Eurozone GDP to rise by 0.4% in the first-quarter of 2015 and by 1.0% annualized. This can be compared to the 0.3% increase reported in the fourth-quarter of 2014 and the annualized increase of 0.9%. This could send the Euro into rally-mode. Prior to the Eurozone release forex traders will get the GDP for...
Here are the key factors to keep in mind today for Gold trades: Chinese Interest Rate Cut: The PBOC (People’s Bank of China) decided to lower its interest rate, or the one-year lending rate, by 0.25% from 5.35% to 5.10% over the weekend. This move was not expected and sent ripple effects through Asian currency markets. The Australian Dollar as well as the New Zealand Dollar, heavily dependent on commodity exports to China, saw volatility increase during the session while commodities such as gold and silver were also impacted as forex...
Here are the key factors to keep in mind today for US Dollar trades: US NFP Report: Forex traders will receive the most important economic report out of the US today with the release of the NFP report. Many may remember the devastating report released for March and the risk remains for a downward revision to the March figure on top of the strong likelihood of a disappointment for the April NFP. Economists expected an increase of 230,000 jobs in April which is unlikely to be delivered judging by the ADP report which was released on Wednesday...
Here are the key factors to keep in mind today for Euro trades: Eurozone PMI: Forex traders received the final revision to the April data which offered a more upbeat picture than expected. Italy and France performed much stronger while Germany was weaker than previously reported. The Italian Composite PMI now stands at 53.9 for April while the Italian Services PMI came in at 53.1. Economists expected the Composite PMI to rise to 52.7 from the previously reported 52.4 while the Services PMI was expected to rise to 52.0 from 51.6. The French...