EUR/USD Fundamental Analysis – August 10, 2015 – Forecast

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Updated: Aug 7, 2015, 10:12 UTC

Analysis and Recommendations: The EUR/USD added 8 points to trade at 1.0932 as traders prepare for the monthly US jobs report. The euro had two contrary

EUR/USD Fundamental Forecast – July 4, 2016

EUR/USD Fundamental Analysis – August 10, 2015 - Forecast

Analysis and Recommendations:

The EUR/USD added 8 points to trade at 1.0932 as traders prepare for the monthly US jobs report. The euro had two contrary economic events from Germany today. The trade balance improved while industrial production tumbled. Economists polled by Reuters forecast the US economy added 223,000 jobs in July, the same outcome as June. US job growth has exceeded 200,000 in 14 of the past 16 months.

A slew of upbeat US economic data, including Thursday’s positive weekly jobless claims, showed “there’s not really much to stop the Fed from increasing rates”, Mr Spooner said, adding that a slightly weaker nonfarm figure was unlikely to derail its plans. The number of Americans filing new applications for unemployment benefits rose less than expected last week, suggesting labour market conditions are continuing to tighten.

“There are not a lot of natural reasons for investors to buy gold at the moment. The dollar is getting stronger and there’s no real sign of inflation on the horizon with weaker oil prices and other commodities,” Mr Spooner said.

German industrial production unexpectedly decreased in June, highlighting the risks for Europe’s largest economy from weaker growth in emerging-market countries such as China.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.

Today’s economic releases:

Cur.	Event	Actual	Forecast	Previous
AUD	Home Loans (MoM) (Jun)	4.4%	5.0%	-7.3%
AUD	RBA Monetary Policy Statement
CHF	Unemployment Rate n.s.a. (Jul)	3.1%	3.1%	3.1%
CHF	Unemployment Rate (Jul)	3.3%	3.3%	3.3%
EUR	German Industrial Production (MoM)	-1.4%	0.3%	0.2%
EUR	German Trade Balance (Jun)	24.0B	21.5B	19.5B
JPY	BoJ Press Conference
GBP	Trade Balance (Jun)		-9.30B	-8.00B
GBP	Trade Balance Non-EU (Jun)		-2.40B	-1.57B

Upcoming Economic Events that you should be monitoring:

Monday, August 10, 2015

	Event	Previous
JPY	Eco Watchers Survey: Current (Jul)		51
JPY	Eco Watchers Survey: Outlook (Jul)		53.5
USD	Labor Market Conditions Index (Jul)		0.8
NZD	Electronic Card Retail Sales (MoM)		0.5%
NZD	Electronic Card Retail Sales (YoY)		5%
GBP	BRC Retail Sales Monitor – All (YoY)		1.8%