Here is the key factor to keep in mind today for Euro trades:

• Eurozone PMI Data: Forex traders will get the last look at the Eurozone Services PMI. Economists expect today’s data show the Eurozone Services PMI for July at 53.8. This compares to the 53.8 which was reported in the previous report for July. The Italian Services PMI is expected to come in at 53.0. This compares to the 53.4 which was reported in the previous report for July. The French Services PMI is expected to come in at 52.0. This compares to the 52.0 which was reported in the previous report for July. The German Services PMI is expected to come in at 53.7. This compares to the 53.7 which was reported in the previous report for July. The Eurozone Composite PMI is expected to show a level of 53.7. This compares to the 53.7 which was reported in the previous report for July. The Italian Composite PMI is expected to come in at 53.8. This compares to the 54.0 which was reported in the previous report for July. The French Composite PMI is expected to come in at 51.5. This compares to the 51.5 which was reported in the previous report for July. The German Composite PMI is expected to come in at 53.4. This compares to the 53.4 which was reported in the previous report for July.

Here is the key factor to keep in mind today for New Zealand Dollar trades:

• New Zealand Employment Report: The unemployment rate rose to 5.9% in the second-quarter of 2015. This is in line with expectations. The labor force participation rate decreased to 69.3% and missed expectations for an increase to 69.6%. The first-quarter was revised down to a labor force participation rate of 69.5%. The quarterly employment change for the second-quarter showed an increase of only 0.3% which missed expectations for an increase of 0.5%. Forex traders can compare this to the increase of 0.6% reported for the first-quarter. The annualized increase showed a gain of 3.0%, again missing estimates looking for an increase of 3.4%, and below the 3.2% reported in the first-quarter. Labor costs in the private sector and private wages excluding overtime rose by 0.5% and 0.5%. This matched expectations and forex traders can compare this to the 0.3% and 0.3% increase which were reported in the first-quarter. The biggest positive out of today’s employment report was delivered by quarterly average hourly earnings which surged by 1.2% for the second-quarter. This was more than twice the increase of 0.5% expected by economists and can be compared to the 0.2% increase reported in the first-quarter of 2015.

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