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EUR/USD Daily Forecast – 03 August

Wednesday, Aug 02 2017
EUR/USD Daily Forecast – 03 August

Yesterday, from Eurozone, Spanish Unemployment Change figures were published. The number of unemployed registered in the offices of the Public Employment Service (SEPE) in July fell by 26,887 people in relation to the previous month. Thus, the total number of unemployed registered in the month of July stands at 3,335,924. It reaches its lowest level in the last 8 years. In seasonally adjusted terms, unemployment rose by 11,771 people.

In the US session, ADP Employment Change data was released.  Private sector employment increased by 178,000 jobs from June to July according to the July ADP National Employment Report. “Job gains continued to be strong in the month of July,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “However, as the labor market tightens employers may find it more difficult to recruit qualified workers.”

 

There will be no major data releases from Eurozone tomorrow. In the US session Unemployment Claims and Non-Manufacturing PMI figures will be published. Unemployment Claims are expected to decrease to 242,000, while Non-Manufacturing PMI should fall to 56.9.

 

Figures to watch:

 

Unemployment Claims (Thursday 14:30)

ISM Non-Manufacturing PMI (Thursday 16:00)

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

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