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EUR/USD Daily Forecast - 07 March

Tuesday, Mar 06 2018
EUR/USD Daily Forecast - 07 March

From Eurozone, yesterday, Retail PMI figures were released. Eurozone retailers reported an eleventh consecutive monthly rise in like-for-like sales during February. Moreover, the rate of expansion quickened from January‟s five-month low and was solid overall. The acceleration at the eurozone level reflected sharper rises in Germany and France, and renewed growth in Italy. The headline IHS Markit Eurozone Retail PMI® rose to 52.3 in February, from 50.8 in January. Sales were broadly unchanged when compared tothe same month one year prior, after having beendown in January and December.

In the US session Factory Orders figures were published. New orders for U.S.-made goods recorded their biggest decline in six months in January and business spending on equipment appeared to be slowing after strong growth in 2017. Factory goods orders fell 1.4 percent amid a broad decrease in demand, the Commerce Department said on Tuesday. That was the largest drop since July 2017 and followed five straight monthly increases. Factory orders rose 1.8 percent in December.

 

There will be no major data releases from Eurozone tomorrow. In the US session ADP job figures will be published. Incline by 194,000 is anticipated.

 

Figures to watch:

 

ADP Non-Farm Employment Change (Wednesday 14:15)

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