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EUR/USD Daily Forecast – 04 July

Monday, Jul 03 2017
EUR/USD Daily Forecast – 04 July

Yesterday's session brought Spanish Manufacturing PMI figures. The Spanish manufacturing sector completed a strong second quarter of the year in June, with growth of output, new orders and employment remaining elevated. Higher output requirements led firms to increase their purchasing activity at the strongest pace so far this year. At 54.7, the headline PMI signalled a marked monthly improvement in business conditions in the Spanish manufacturing sector. The reading was only slightly below that of May (55.4), while the average for the second quarter of the year was broadly in line with the first quarter.

In the US session ISM Manufacturing PMI data was published. The June PMI registered 57.8 percent, an increase of 2.9 percentage points from the May reading of 54.9 percent. The New Orders Index registered 63.5 percent, an increase of 4 percentage points from the May reading of 59.5 percent. The Production Index registered 62.4 percent, a 5.3 percentage point increase compared to the May reading of 57.1 percent. The Employment Index registered 57.2 percent, an increase of 3.7 percentage points from the May reading of 53.5 percent. The Supplier Deliveries index registered 57 percent, a 3.9 percentage point increase from the May reading of 53.1 percent.

 

Tomorrow's session will bring Spanish Unemployment Change figures. Analysts predict decrease by 120,000 in number of unemployed. There will be no data releases in the US part of the session.

 

Figures to watch:

 

Spanish Unemployment Change (Tuesday 9:00)

More in this category: « GBP/USD Daily Forecast – 04 July AUD/USD Daily Forecast – 11 July »

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