EUR/USD Fundamental Analysis October 7, 2014 Forecast

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Updated: Aug 24, 2015, 23:00 UTC

Analysis and Recommendations: The EUR/USD gained 32 points today as the dollar eased off its highs as traders adjusted after Friday’s response to a strong

EUR/USD Fundamental Analysis October 7, 2014 Forecast

Analysis and Recommendations:

The EUR/USD gained 32 points today as the dollar eased off its highs as traders adjusted after Friday’s response to a strong US jobs report which continues to dominate the marketplace. German factory orders missed expectation offsetting the gains of the euro. The dollar pared some gains in Asia, however, with a lack of fresh cues prompting profit-taking.

The dollar held on Monday near a more than four-year high, touched after last week’s upbeat U.S. nonfarm payrolls report increased speculation that the Federal Reserve would raise interest rates in mid-2015 or earlier.

Data from the Labor Department on Friday showed U.S. non-farm payrolls rose 248,000 last month and the jobless rate fell to 5.9 percent, the lowest since July 2008. The figures underscored the continuing improvement in the U.S. economy and added credence to speculation that the U.S. Federal Reserve will raise interest rates sooner rather than later.

The dollar index, which tracks the greenback against six major currencies, was headed for its best yearly gain in nine years, adding about 8 percent so far in 2014. It logged weekly gains for a record 12 straight weeks, and last stood slightly down on the day at 86.636, but not far from a four-year high of 86.746 marked on Friday.

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 actual vs. forecast:

Cur.	Event	Actual	Forecast	Previous
EUR	German Factory Orders	-5.7%	-2.5%	4.9%
CAD	Ivey PMI		53.0	50.9

Upcoming Economic Events that you should be monitoring:

Currency

JPY	Monetary Policy Statement
AUD	Cash Rate
AUD	RBA Rate Statement
JPY	BOJ Press Conference
CHF	Foreign Currency Reserves
GBP	Halifax HPI m/m
CHF	CPI m/m
CHF	Retail Sales y/y
GBP	Manufacturing Production m/m
GBP	BOE Credit Conditions Survey
CAD	Building Permits m/m
GBP	NIESR GDP Estimate
USD	JOLTS Job Openings