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EUR/USD Daily Forecast – 03 July

Friday, Jun 30 2017
EUR/USD Daily Forecast – 03 July

Friday's session was marked by Eurozone CPI figures. Euro area annual inflation is expected to be 1.3% in June 2017, down from 1.4% in May 2017, according to a flash estimate from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in June (1.9%, compared with 4.5% in May), followed by services (1.6%, compared with 1.3% in May), food, alcohol & tobacco (1.4%, compared with 1.5% in May) and non-energy industrial goods (0.4%, compared with 0.3% in May).

In the US session Chicago PMI data was released.  The MNI Chicago Business Barometer rose to 65.7 in June from 59.4 in May, the highest level in over three years. Optimism among firms about business conditions rose for the fifth consecutive month. Four of the five Barometer components led June’s increase, with only Employment falling, albeit slightly. Successive rises in the barometer left the Q2 calendar quarter average at 61.1, significantly above Q1’s 55.1, and the highest level since Q2 2014.

 

On Monday, from Eurozone, Spanish Manufacturing PMI figures will be released. Analysts predict slight increase. In the US session, also ISM Manufacturing PMI data will be published. No change is expected.

 

Figures to watch:

 

Spanish Manufacturing PMI (Monday 9:15)

ISM Non-Manufacturing PMI (Monday 16:00)

More in this category: « GBP/USD Daily Forecast – 03 July AUD/USD Daily Forecast – 04 July »

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