EUR/USD Fundamental Analysis September 3, 2013 Forecast

Analysis and Recommendations:

The EUR/USD traded in the red against a stronger US dollar with the US markets closed for the holiday. Eurozone PMI data printed above expectations with individual countries doing as well. The euro is trading at 1.3216. August’s survey keeps the good news rolling in for the German manufacturing sector, with improvements in domestic sales and a rebound in export demand combining to generate the fastest expansion of output volumes since the middle of 2011,” said Tim Moore, an economist at Markit.

“Overall, the latest figures provide a strong indication that manufacturing output will have a positive contribution to German GDP (gross domestic product) in the third quarter of 2013.” New export orders rose for the first time since February, driving the strongest gain in overall intake since May 2011. A bastion of strength in the early stages of the euro zone’s debt crisis, the German economy only narrowly avoided recession at the start of the year as a worsening global outlook diminished appetite for its products and willingness to invest.

Eurozone manufacturing activity hit a 26-month high in August, confirming other recent data that shows the bloc coming out of a deep recession, a survey showed on Monday. The Purchasing Managers’ Index compiled by Markit Economics for the manufacturing sector jumped to a final 51.4 points in August from 50.3 in July, pushing further beyond the 50-points boom-or-bust line. The survey is considered to be a reliable leading indicator of the trend for manufacturing industries and an important guide to the direction of the economy.

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.   

Economic Data September 2, 2013 actual v. forecast

 

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Government Bond Auction

Date Time Country 

Sep 03 09:10 Norway

Sep 03 09:15 Austria

Sep 03 09:30 Belgium

Sep 03 09:30 UK

Sep 04 09:10 Sweden

Sep 04 09:30 Germany

Sep 05 08:30 Spain

Sep 05 08:50 France

Sep 05 15:00 US

Sep 06 15:30 Italy