The Euro is accompanied by small purchases. Overview for 05.08.2020

05.08.2020

On Wednesday morning, EURUSD is still rising; investors are interested in risks. 

The major currency pair remains strong in the middle of the week. The current quote for the instrument is 1.1810.

There were few numbers worth paying attention to yesterday. For example, the Euro Area reported on the PPI, which added 0.7% m/m in July after losing 0.6% m/m in the previous month. 

The USA reported on the Factory Orders in June, which showed +6.2% after being +7.7% m/m the month before and against the expected reading of +5.1% m/m. The Factory Orders report may be a leading indicator to the Retail Sales and such an improvement may be pretty good for the American economy. 

Later in the afternoon, the USA will start reporting on its labor market in July. As a rule, the first report is the ADP Non-Farm Employment Change, which may show 1.2M after being 2.369M in June. Any increase is a good sign for the “greenback” and the bigger the reading – the better for the USD. 

All key numbers on the employment will be published on Friday, as usual. 

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.