wrapper

EUR/USD Daily Forecast – 06 December

Tuesday, Dec 05 2017
EUR/USD Daily Forecast – 06 December

From Eurozone, yesterday, Spanish Services PMI figures were released. The headline seasonally adjusted Business Activity Index posted 54.4 in November, down from 54.6 in October and signalling the weakest rise in business activity since January. That said, output has now increased on a monthly basis in each of the past 49 months. Higher new business was reportedly the main factor leading activity to rise, with the hiring of additional sales staff helping to generate new orders. On the other hand, some panellists reported a drop in activity linked to political uncertainty in Catalonia.

In the US session ISM Non-Manufacturing PMI data was published. The November PMI registered 58.2 percent, a decrease of 0.5 percentage point from the October reading of 58.7 percent. Comments from the panel reflect expanding business conditions, with New Orders and Production leading gains, employment expanding at a slower rate, order backlogs stable and expanding, and export orders all continuing to grow in November. Supplier deliveries continued to slow (improving), but at slower rates, and inventories continued to contract during the period. Price increases continued, but at a slower rate. The Customers’ Inventories Index improved but remains at low levels.

 

There will be no major data releases from Eurozone tomorrow. In the US session ADP job data will be published. Increase by 189,000 is anticipated.

 

 

Figures to watch:

 

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

More in this category: « GBP/USD Daily Forecast – 06 December AUD/USD Daily Forecast – 07 December »

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.