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EUR/USD Daily Forecast – 07 August

Saturday, Aug 05 2017
EUR/USD Daily Forecast – 07 August

From Eurozone, on Friday, German Factory Orders figures were published. Based on provisional data, the Federal Statistical Office (Destatis) reports that price-adjusted new orders in manufacturing had increased in June 2017 a seasonally and working-day adjusted 1.0% on the previous month. For May 2017, revision of the preliminary outcome resulted in an increase of 1.1% compared with April 2017 (primary +1.0%). Price-adjusted new orders without major orders in manufacturing had increased in June 2017 a seasonally and working-day adjusted 2.0% on the previous month.

US session was marked by NFP report. Total nonfarm payroll employment increased by 209,000 in July, and the unemployment rate was little changed at 4.3 percent, the U.S. Bureau of Labor Statistics reported. Employment increased in food services and drinking places, professional and business  services, and health care. Both the unemployment rate, at 4.3 percent, and the number of unemployed persons, at 7.0  million, changed little in July. After declining earlier in the year, the unemployment rate has shown little movement in recent months.

 

There will be no major data releases both from Eurozone and USA on Monday so we can expect a bit steadier session.

More in this category: « GBP/USD Daily Forecast – 07 August AUD/USD Daily Forecast – 09 August »

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