Here are the key factors to keep in mind today for Euro trades:
- Italian Markit/ADACI Manufacturing PMI: The Italian Markit/ADACI Manufacturing PMI for April was reported at 53.5. Economists predicted a figure of 54.5. Forex traders can compare this to the Italian Markit/ADACI Manufacturing PMI for March which was reported at 55.1.
- French Markit Manufacturing PMI: The Final French Markit Manufacturing PMI for April was reported at 53.8. Economists predicted a figure of 53.4. Forex traders can compare this to the previous French Markit Manufacturing PMI for April which was reported at 53.7.
- German Markit/BME Manufacturing PMI: The Final German Markit/BME Manufacturing PMI for April was reported at 58.1. Economists predicted a figure of 58.1. Forex traders can compare this to the previous German Markit/BME Manufacturing PMI for April which was reported at 58.2.
- Eurozone Markit Manufacturing PMI: The Final Eurozone Markit Manufacturing PMI PMI for April was reported at 56.2. Economists predicted a figure of 56.0. Forex traders can compare this to the previous Eurozone Markit Manufacturing PMI for April which was reported at 56.6.
- Eurozone Unemployment Rate: The Eurozone Unemployment Rate for March was reported at 8.5%. Economists predicted a figure of 8.5%. Forex traders can compare this to the Eurozone Unemployment Rate for February which was reported at 8.5%.
- Italian GDP: The Preliminary Italian GDP for the first-quarter increased by 0.3% quarterly and by 1.4% annualized. Economists predicted an increase of 0.3% quarterly and of 1.4% annualized. Forex traders can compare this to the Italian GDP for the fourth-quarter which increased by 0.3% quarterly and by 1.6% annualized.
- Eurozone GDP: The advanced Eurozone GDP for the first-quarter increased by 0.4% quarterly and by 2.5% annualized. Economists predicted an increase of 0.4% quarterly and of 2.5% annualized. Forex traders can compare this to the previous Eurozone GDP for the first-quarter which increased by 0.6% quarterly and by 2.7% annualized.
Here are the key factors to keep in mind today for New Zealand Dollar trades:
- New Zealand QV House Prices: New Zealand QV House Prices for April increased by 7.6% annualized. Forex traders can compare this to New Zealand QV House Prices for March which increased by 7.3% annualized.
- New Zealand Employment Data: The Unemployment Rate for the first-quarter was reported at 4.4%. Economists predicted an Unemployment Rate of 4.4%. Forex traders can compare this to the Unemployment Rate for the fourth-quarter which was reported at 4.5%. The Unemployment Change for the first-quarter increased by 0.6% quarterly and by 3.1% annualized. Economists predicted an increase of 0.6% quarterly and of 3.3% annualized. Forex traders can compare this to the Unemployment Change for the fourth-quarter which increased by 0.4% quarterly and by 3.7% annualized. The Participation Rate for the first-quarter was reported at 70.8%. Economists predicted a Participation Rate of 71.0% quarterly. Forex traders can compare this to the Participation Rate for the fourth-quarter which was reported at 70.9%. Private Wages ex Overtime for the first-quarter increased by 0.3% quarterly. Economists predicted an increase of 0.4% quarterly. Forex traders can compare this to Private Wages ex Overtime for the fourth-quarter which increased by 0.4% quarterly. Labor Cost Private Sector for the first-quarter increased by 0.3% quarterly. Economists predicted an increase of 0.5% quarterly. Forex traders can compare this to Labor Cost Private Sector for the fourth-quarter which increased by 0.4% quarterly. Average Hourly Earnings for the first-quarter increased by 1.1% quarterly. Economists predicted an increase of 0.5% quarterly. Forex traders can compare this to Labor Cost Private Sector for the fourth-quarter which increased by 0.8% quarterly.
Should price action for the EURNZD remain inside the or breakdown below the 1.7055 to 1.7115 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.7075
- Take Profit Zone: 1.6670 – 1.6700
- Stop Loss Level: 1.7200
Should price action for the EURNZD breakout above 1.7115 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.7165
- Take Profit Zone: 1.7255 – 1.7300
- Stop Loss Level: 1.7055
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