Analysis and important financial markets data on 01 July 2019

09:55 (GMT+2) EU/EUR German Manufacturing PMI

09:55 EU/EUR German Unemployment Change

10:30 UK/GBP Manufacturing PMI

16:00 USA/USD ISM Manufacturing PMI

Analysis EUR/USD

The U.S. dollar is benefiting from the resumption of trade talks between the U.S. and China at the beginning of the new trading week, as market participants are less likely to see an aggressive Fed interest rate policy after Osaka. The euro, on the other hand, is under some pressure from the difficult talks about future EU top executives. The most important economic data today is likely to be the Purchasing Managers' Indices, although the outlook for them is rather cautious. Technically, the EURUSD pair received support at the 1.1327 level this morning. If this is breached at the close of the hour, the next target may be 1.1305. With a bullish impulse, the first target would be 1.1350 and later 1.1370.

Analysis USD/JPY

The Japanese yen fell sharply tonight after rather poor economic data. It jumped above the 108.00 yen level against the U.S. dollar with a gap of about 40 pips and is currently trading at 108.45. On the fundamental side, only a worse-than-expected ISM index could give the yen some air today. From the technical side, the price is just below the important resistance level of 108.62. If this is breached, the door could have opened towards 109.00 Yen.

Advertisement

Disclaimer

The opinions of the author to market behaviour does not constitute a financial advise or solicitation to buy or sell any financial products, but are merely a personal opinion. When you trade leveraged financial products, you must be aware that a loss up to the amount of your deposit is possible, and in addition can also be an obligation to arise. Make yourself familiar with active trading or get independent advice before you invest your own money and use only money to invest that you can lose in the worst case