EUR/USD: Preliminary PMIs released today
Expectations are for ongoing contraction in the manufacturing and services sector, but for the figures to improve on previous readings.
EUR/USD Technical analysis, overview, strategies, and levels
The euro was a relative outperformer yesterday in the FX market, undoing some of its recent bearish movement and keeping its price at a distance from its key daily long-term moving averages. Risk-related currencies have been in for additional volatility this morning after the trade talk mix-up. Consumer confidence data was in line with expectations showing ongoing contraction, with the focus today shifting to preliminary manufacturing and services PMIs (Purchasing Managers Index) for the bloc and its core countries out of Markit for the month of June. Expectations are for ongoing sub-50 (and hence) contractionary readings, but where it'll improve on readings in May and especially April, and hint as to what type of letter shaped recovery we'll be getting. Out of the US we'll also get its preliminary PMIs, more housing data after yesterday's significant existing home sales miss, and manufacturing data out of the Fed's Richmond.
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.
Be sure to request IG’s Weekly & Daily Market Report when you open an account with IG Dubai and get access to the full information on the FX majors, commodities, indices, and Bitcoin.
This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.
See an opportunity to trade?
Go long or short on more than 17,000 markets with IG.
Trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
