Here are the key factors to keep in mind today for Euro trades: German Factory Orders: Germany factories performed unexpectedly bad in February which took many forex traders by surprise. Economists expected an increase of 1.5% in February monthly and an increase of 0.5% annualized. Germany factory orders plunged 0.9% monthly and 1.3% annualized. Forex traders can compare this to January’s contraction of 2.6% and 0.3%. This points to a very weak manufacturing start for the biggest economy in the Eurozone and the Euro did suffer throughout...
Here are the key factors to keep in mind today for US Dollar trades: US Markit Composite PMI/Services PMI: Forex traders will receive the final look at the Markit Composite PMI and the Markit Services PMI for March. Initially the Markit Composite PMI was reported at 58.5 while the Markit Services PMI was reported at 58.6 for March. Economists expect no improvement in the data and predict that the Markit Composite PMI will come in at 58.5 while the Markit Services PMI will come in at 58.6. Given the economic disappointments reported out of...
Here is the key factor to keep in mind today for US Dollar trades: US NFP Report: Forex traders will receive the much awaited US NFP report today and get a look at the strength of the US labor market for March. Economists expect the addition of 245,000 jobs for March with an unemployment rate of 5.5%. Forex traders can compare this to February’s report which showed the addition of 295,000 jobs and an unemployment rate of 5.5%. Forex traders should be very careful today as the NFP report is set-up for a sharp disappointment and a headline...
Here is the key factor to keep in mind today for Euro trades: Eurozone Manufacturing PMI: Today’s report on the Eurozone Manufacturing Report will be the final look at the March data. The initial report showed that the Eurozone Manufacturing PMI came in at 51.9 in March and economists expect this level to be confirmed today. The German Manufacturing PMI is expected to remain unchanged at 52.4 and so is the French Manufacturing PMI which was reported at 48.2. France remains in a contraction and poses a drag on the overall index. Economists...
Here is the key factor to keep in mind today for Euro trades: Eurozone Confidence Report: Forex traders received a very important set of data on Eurozone confidence today. Eurozone Industrial Confidence was reported at -2.9 in March. This beat expectations for a reading of -4.0 and was much better than February’s level of -4.6. Eurozone Consumer Confidence was reported at -3.7 in March which matched expectations as well as the -3.7 reported in February. Eurozone Economic Confidence was reported at 103.9 in March which beat expectations for...