Data/Event Risks USD: Low risks from the data side, with just factory orders. That said, the market could well be more sensitive to weaker releases after yesterday’s disappointing ISM manufacturing data. EUR: The final PMI manufacturing data today will be of interest, especially in wake of US data yesterday. Eurozone unemployment data also released, but of secondary interest. GBP: Manufacturing PMI data is expected to improve modestly from 47.9 to 48.7. We’ve only seen 4 readings above 50 over the past year. Sterling would suffer on weaker than expected reading. Idea of the Day The weaker manufacturing ISM data in the US yesterday put a dampener on the recent trend of stronger than expected US data supporting the dollar. It was also divergence in data surprises between the US and Eurozone (former surprising to upside, latter to downside) that had helped push EURUSD to the lows of the year last week. This explains why there was only limited reaction on EURUSD to the weak US data yesterday, because if continued this driver of EURUSD could disappear this month. For this reason, the revisions to Eurozone data today will be closely watched. More disappointment will push EURUSD lower, but the lows of last week 1.2751 should be safe for now. Latest FX News EUR: Against the dollar, currently sitting just below the 200 day moving average which sits at 1.2889. The euro gained only modestly vs. the dollar in the wake of the weaker US data, reflecting an underlying reluctance to move higher. USD: The ISM manufacturing data yesterday knocked the dollar, with the headline coming in at 51.3 vs. expectations for 54.0. JPY: The past two sessions have seen the yen strengthen, with USDJPY falling decisively below the bull channel in place for the past four months. Weak US data helped the yen gain yesterday to a 4 week low at 92.57. AUD: No surprise to see the central bank keeping rates on hold at 3.00%. There was a brief and modest rally on the Aussie in the wake of the announcement, but AUDUSD quickly settled to sit near to 1.0460 into the European open. Further reading: Cyprus: Potential capital outflows and euro-zone outflow explained FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Forex News Today: Daily Trading News share Read Next UK Manufacturing PMI Doesn’t Really Recover – GBP/USD Slides Yohay Elam 9 years Data/Event Risks USD: Low risks from the data side, with just factory orders. That said, the market could well be more sensitive to weaker releases after yesterday's disappointing ISM manufacturing data. EUR: The final PMI manufacturing data today will be of interest, especially in wake of US data yesterday. Eurozone unemployment data also released, but of secondary interest. GBP: Manufacturing PMI data is expected to improve modestly from 47.9 to 48.7. We've only seen 4 readings above 50 over the past year. Sterling would suffer on weaker than expected reading. Idea of the Day The weaker… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
