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EUR/USD Daily Forecast - 05 March

Saturday, Mar 03 2018
EUR/USD Daily Forecast - 05 March

From Eurozone, Spanish Unemployment Change figures were released. The number of unemployed registered in the offices of the Public Employment Services has decreased in February by 6,280 people in relation to the previous month. During the last ten years the increase recorded on average in the months of February was 50,696 people. In seasonally adjusted terms, unemployment has dropped by 23,139 people. With respect to February 2017, unemployment has been reduced by 280,628 people, and the year-on-year reduction rate stands at 7.48%. Thus, the total number of registered unemployed is 3,470,248, and is at its lowest level in the last 9 years.

In the US session Consumer Sentiment data was published. The University of Michigan's consumer sentiment index ticked down at the end of February, but remained at historically high levels. The latest reading came in at 99.3, slightly below the mid-month figure of 99.9. Consumer sentiment inched down at the end of February, but still exceeded expectations after shooting up in a mid-month reading. The University of Michigan's report on consumer attitudes about the economy slipped to 99.7 in February.

 

There will be no major data releases from Eurozone on Monday.  In the US session ISM Non-Manufacturing PMI figures will be released. Decline to 58.9 is expected.

 

Figures to watch:

 

ISM Non-Manufacturing PMI (Monday 16:00)

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