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EUR/USD Daily Forecast – 02 August

Tuesday, Aug 01 2017
EUR/USD Daily Forecast – 02 August

Yesterday, from Eurozone, Spanish Manufacturing PMI figures were released. At 54.0, the headline PMI signalled a solid monthly improvement in the health of the manufacturing sector. That said, the reading was down from 54.7 in June and pointed to the weakest improvement in business conditions since March. The rate of expansion in total new orders eased for the second month running in July and was the slowest since September 2016. In contrast, new export orders rose at a sharp and accelerated pace.

In the US session ISM Manufacturing PMI data was published. The July PMI® registered 56.3 percent, a decrease of 1.5 percentage points from the June reading of 57.8 percent. Comments from the panel generally reflect expanding business conditions, with new orders, production, employment, backlog and exports all growing in July compared to June, as well as supplier deliveries slowing (improving) and inventories unchanged during the period.

 

There will be no major data releases from Eurozone tomorrow. In the US session ADP job data will be published. Increase by 187,000 is forecasted.

 

Figures to watch:

 

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

More in this category: « GBP/USD Daily Forecast – 02 August AUD/USD Daily Forecast – 03 August »

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