Here are the key factors to keep in mind today for US Dollar trades: US Advanced Goods Trade Balance: The US Advanced Goods Trade Balance for March is predicted at -$73.0B. Forex traders can compare this to the US Advanced Goods Trade Balance for February which was reported at -$70.9B. US Wholesale Inventories: US Preliminary Wholesale Inventories for March are predicted to increase by 0.2% monthly. Forex traders can compare this to US Wholesale Inventories for February which increased by 0.2% monthly. US NFP Report: The US NFP Report for...
As expected by our recent forecasts, the single European currency is under strong pressure from the US dollar and, at the moment, is actively selling in the foreign exchange market. The reason for this is the expectation of strong US labor market statistics coming out today. NFP forecast > Additional pessimism for the single currency was added by ADP statistics published recently that surpassed the boldest analysts' forecasts. According to agency statistics, 275,000 new jobs added to the US labor market in April. Recall that the ADP...
Here are the key factors to keep in mind today for Euro trades: Eurozone PPI: The Eurozone PPI for March is predicted flat at 0.0% monthly and to increase by 3.0% annualized. Forex traders can compare this to the Eurozone PPI for February which increased by 0.1% monthly and by 3.0% annualized. Eurozone CPI and Eurozone Core CPI: The Eurozone CPI for April is predicted to increase by 1.6% annualized and the Eurozone Core CPI is predicted to increase by 1.0% annualized. Forex traders can compare this to the Eurozone CPI for March which...
The release on the US labor market, which will be published this Friday, is in the focus of Forex traders. Intrigue adds the resumption of the strengthening of the US currency against the background of not very good fundamental data on the state of the European economy, published recently. NonFarm Payrolls Last data: 196K Consensus forecast: 185K The US labor market remains the backbone of the US economy, and all signs point to another significant increase in the number of jobs. After the publication of 196K in March, the consensus...
Here are the key factors to keep in mind today for British Pound trades: UK Markit/CIPS Construction PMI: The UK Markit/CIPS Construction PMI for April is predicted at 50.3. Forex traders can compare this to the UK Markit/CIPS Construction PMI for March which was reported at 49.7. Bank of England Interest Rate Decision, Asset Purchase Target and Corporate Bond Target: The Bank of England is predicted to keep interest rates at 0.75%, the Asset Purchase Target £435B and the Corporate Bond Target at £10B. Forex traders can compare this to the...
