Today the focus is on US mortgages, British partnerships, and EU recovery.
The German Manufacturing PMI for June will be released. Forecast: 64.9. If the results are below the forecast the EUR could receive negative pressure.
Assets to trade: AUD/EUR, EUR/GBP, EUR/USD
The British Manufacturing PMI for June will be reported. Forecast: 64.2. If the data is lower than predicted the GBP could receive a negative push.
Assets to trade: GBP/USD, GBP/NZD, GBP/CAD
The US Initial Jobless Claims will be announced. Forecast: 390K. If the results are lower than expected the USD could receive a push upward.
Assets to trade: GBP/USD, EUR/USD, USD/JPY
The US ISM Manufacturing PMI for June will be released. Forecast: 61.0. If the result is lower than expected the USD could receive negative pressure.
Assets to trade: USD/NOK, GBP/USD, AUD/USD
The European Commission on Wednesday proposed beefing up product safety and consumer credit rules for consumers, prompted by the surge in online shopping by people during COVID-19 lockdowns and the increasing digitalization of everyday life. Affects EUR
U.S. applications for home mortgages decreased by the most in almost five months driven by sharp declines in refinancing activity and purchase applications. Affects USD
Britain said on Wednesday it had agreed to a partnership for financial services with Singapore as part of its push for post-Brexit trade and investment deals. Affects GBP
Banks in the European Union became significantly more profitable in the first quarter of 2021 due to higher income from trading and as the burden of souring loans eased, the bloc’s banking watchdog said on Wednesday. Affects EUR
German unemployment fell further in June as more workers joined the labor market in light of a strong recovery in Europe’s largest economy helped by falling coronavirus infections and an easing of containment measures, data showed on Wednesday. Affects EUR
The Eurozone economy has been slowly recovering from COVID restrictions, as the German powerhouse leads the way. But the US has also been recovering quickly even in the face of labor shortages.
The pair is testing the support level around 1.186, but may not have the momentum to break through it.
The pair has shown a Bullish Engulfing pattern, and prices are testing the resistance level, the resistance levels strength may be waning.
The tech giant has risen to previous highs and is testing its resistance level, momentum may be strong enough to move past resistance.