wrapper

EUR/USD Daily Forecast – 03 November

Thursday, Nov 02 2017
EUR/USD Daily Forecast – 03 November

From Eurozone, yesterday, Spanish Manufacturing PMI figures were released. The PMI increased to 55.8 in October, up from 54.3 in September and the highest reading since May 2015. In fact, the rate of improvement in the health of the sector was the joint-fastest since the financial crisis. The rate of new order growth quickened for the second month running in October and was the fastest since January. New export orders also rose at a sharper pace, with growth often reflecting new work from other European countries.

 

In the US session Unemployment Claims data was published. In the week ending October 28, the advance figure for seasonally adjusted initial claims was 229,000, a decrease of 5,000 from the previous week's revised level. The 4-week moving average was 232,500, a decrease of 7,250 from the previous week's revised average. This is the lowest level for this average since April 7, 1973 when it was 232,250. Claims taking procedures continue to be severely disrupted in the Virgin Islands. The ability to take claims has improved in Puerto Rico and they are now processing backlogged claims.

 

There will be no major data releases from Eurozone tomorrow. In the US session NFP report and ISM Non-Manufacturing PMI data will be released. Number of employed should increase by 311,000, while Unemployment Rate should remain unchanged at 6.2%. ISM Non-Manufacturing PMI is expected to decrease to 58.5.

 

Figures to watch:

 

Non-Farm Employment Change/Unemployment Rate (Friday 14:30)

ISM Non-Manufacturing PMI (Friday 16:00)

Last modified on Thursday, 02 November 2017
More in this category: « GBP/USD Daily Forecast – 03 November AUD/USD Daily Forecast – 06 November »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.