Forex traders will get key CPI data out of France, Italy, and Germany today. Economists expect inflationary pressure to remain absent, despite the ECB’s quantitative easing program. The EURUSD has retreated from its most recent peak and is now awaiting more data. The Spanish unemployment change showed continued sluggishness, German data will follow later in today’s session. What impact will this have on price action? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Today’s ISM Manufacturing Index will be crucial for the US Dollar. It has confirmed a recession in the manufacturing sector and remains near multi-year lows. The EURUSD is under selling pressure but stabilized after reaching its horizontal support level. Geopolitical developments point towards an increase in tension between the US and Iran. Forex traders are now waiting for fresh US economic data, how will this currency pair react? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair.