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EUR/USD Daily Forecast – 07 December

Wednesday, Dec 06 2017
EUR/USD Daily Forecast – 07 December

Yesterday's session brought German Factory Orders figures. Based on provisional data, the Federal Statistical Office (Destatis) reports that price-adjusted new orders in manufacturing had increased in October 2017 a seasonally and working-day adjusted 0.5% on the previous month. For the third time in a row, German companies have thus received more orders as they did before the economic and financial crisis end of 2007. For September 2017, revision of the preliminary outcome resulted in increase of 1.2% compared with August 2017 (primary +1.0%).

 

In the US session ADP job data was published. Private sector employment increased by 190,000 jobs from October to November according to the November ADP National Employment Report. “The labor market continues to grow at a solid pace,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Notably, manufacturing added the most jobs the industry has seen all year. As the labor market continues to tighten and wages increase it will become increasingly difficult for employers to attract and retain skilled talent.”

 

There will be no major data releases from Eurozone tomorrow. In the US session Unemployment Claims figures will be published. Analysts predict no change.

 

Figures to watch:

 

Unemployment Claims (Thursday 14:30)

Last modified on Wednesday, 06 December 2017
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