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 the session as a result of the negative surprise.
- Eurozone Markit Retail PMI: The Eurozone Markit Retail PMI was reported at 48.6 for March. This can be compared to the 46.4 reported in February. A level below 50.0 equals a contraction in the sector. The Markit Germany Retail PMI came in at 53.0 and equaled the biggest positive in today’s report. The Markit France Retail PMI as well as the Markit Italy Retail PMI continued contract as the respective reports came in at 45.7 each. Forex traders can compare this to February’s data which showed a level of 51.5 for Germany, a level of 43.6 for France and level of 42.3 for Italy.
- Eurozone Retail Sales: After a very disappointing report on German factory orders, forex traders and the Euro received a very positive report in Eurozone retail sales which contracted 0.2% in February as compare to January, but surged 3.0% annualized. Economists expected a contraction of 0.2% and an increase of only 2.8%. This can be compared to January’s downward revised increase of 0.9% and 3.2%. The Eurozone consumer appears to be holding up despite the overall negative economic sentiment.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss CPI: Economists expected the Swiss CPI to increase by 0.1% in March monthly and to contract by 1.1% annualized. Today’s report came in much higher than expected as the CPI rose by 0.3% in March monthly and contracted by 0.9% annualized. This can be compared to the 0.3% contraction reported in February and 0.8% contraction annualized. The Swiss Franc saw a minor positive impact from the higher than expected inflation.
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
