German industrial production dropped by 1.1% in June. Early expectations stood on a rise of 0.1%. The rise of 1.2% that was reported for May was revised to only 0.9%. Altogether, the locomotive of the euro-zone cannot drive the train in high speed anymore. The reaction in EUR/USD is minor, as the markets focus on two other things: the raging and contagious debt crisis, and the upcoming release of Non-Farm Payrolls. The pair remains steady in a low range. Yesterday’s release of German factory orders was quite different, and surprised with a nice rise. GDP figures for Q2 weren’t released yet in Germany. Italy has seen a weak growth rate of 0.3%, and Spain has seen a rise of only 0.2%. Regarding the debt crisis, no hope has emerged yet. Rumors about ECB intervention to buy Spanish bonds don’t seem real. Yesterday, the ECB returned to the markets, but made only half-hearted moves: buying only doomed Irish and Portuguese bonds. US Non-Farm Payrolls will take the central stage at 12:30 GMT. A gain of 90K is expected, but a smaller gain won’t be surprising. A loss of jobs will add to the troubled markets, and is absurdly likely to help the dollar against the euro – on safe haven flows. See the NFP preview for more. EUR/USD is steady at 1.4140, under resistance at 1.4160, and above support at 1.4070. For more on the pair, see the EUR/USD forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next USD/CAD Retreats on Surprising Drop in Canada’s Unemployment Rate Yohay Elam 12 years German industrial production dropped by 1.1% in June. Early expectations stood on a rise of 0.1%. The rise of 1.2% that was reported for May was revised to only 0.9%. Altogether, the locomotive of the euro-zone cannot drive the train in high speed anymore. The reaction in EUR/USD is minor, as the markets focus on two other things: the raging and contagious debt crisis, and the upcoming release of Non-Farm Payrolls. The pair remains steady in a low range. Yesterday's release of German factory orders was quite different, and surprised with a nice rise. GDP figures for Q2 weren't released… 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.
