EUR/USD: PMIs, Fed minutes, and ADP’s non-farm estimate
Euro little changed against the US dollar for another session, but that could change with fundamental items on the economic calendar today and tomorrow.
EUR/USD Technical analysis, overview, strategies, and levels
Another session where both euro and dollar were little changed against each other, with a buy fade strategy working on a bounce above yesterday's 1st Support level ahead of fundamental data that could aid contrarian breakouts. Eurozone preliminary CPI (Consumer Price Index) figures were better than expected, its core which excludes energy prices meeting estimates. Data out of the US was mixed, ISM-Chicago’s PMI (Purchasing Managers Index) failing to improve significantly while CB's consumer confidence easily beating expectations. For today, the focus early on will be on final manufacturing PMIs out of Markit for the Eurozone, and will include ISM's for the US to see if they can live up to improvements witnessed last week in their preliminary readings. The US Federal Reserve’s (Fed) minutes will also be released today, but shouldn't take away much focus from ADP's non-farm estimate ahead of tomorrow's closely watched official employment figures.
IG client* and CoT sentiment for EUR/USD
EUR/USD Chart with retail and institutional sentiment
*The percentage of IG client accounts with positions in this market that are currently long or short. Calculated to the nearest 1%, as of today morning 8am.
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