Here are the key factors to keep in mind today for US Dollar trades: ADP Employment Change: On Friday forex traders will get the NFP report for February which could test the resilience of traders and today can be a first good look at what to expect from Friday’s report. The release of the ADP report is expected to show the addition of 219,000 jobs in the private sector for February. Should this be confirmed a NFP reading above 200,000 is very likely. Forex traders can compare this with January’s ADP report which showed the addition of 213,...
Here are the key factors to keep in mind today for Euro trades: Eurozone Manufacturing PMI: Economists expect the final reading for the February Manufacturing PMI to confirm the initial report of 51.1. This means that the manufacturing sector in the Eurozone continues to expand which is a positive for the Eurozone economy. A higher Euro should be expected as a result of this. The German Manufacturing PMI is expected to be confirmed at 50.9 lifting the overall Eurozone Manufacturing PMI while the French Manufacturing PMI is expected to...
Here are the key factors to keep in mind today for Euro trades: German Import Price Index: The German Import Price Index is expected to show a contraction of 1.1% in January monthly and 4.6% annualized. Forex traders can compare this with the contraction of 1.7% reported in December monthly and 3.7% annualized. Germany continues to import deflation into the Eurozone. German CPI: Economists expect deflation to continue in the largest economy in the Eurozone. The German CPI is expected to show an annualized contraction of 0.3% in February...
Here are the key factors to keep in mind today for British Pound trades: BBA Loans for House Purchases: An increase in BBA Loans for House Purchases to 36,000 is expected for January. December showed a level of 35,667. The UK housing market is important to the UK economy and a strong performance gives a boost to the British Pound. Should today’s report show a level above 36,000 forex traders may add to their long positions in the British currency. Bank of England Governor Carney and Deputy Governors Speak at Research Conference: This...
Here is the key factor to keep in mind today for New Zealand trades: Credit Card Spending: Credit card spending rose 1.9% in January month-over-month 6.2% year-over-year. This was a much better report than December where credit card spending contracted by 0.5% month-over-month and rose 4.5% year-over-year. A healthy consumer is important for strong economic growth which in return will benefit the New Zealand Dollar and drive it higher. Despite the positive report released out of New Zealand the New Zealand Dollar sold off and traded lower...