EUR/USD PMI, jobless claims data analysis, what to expect ahead?
In this post I will mention the PMI data, and jobless claims data analysis and what to expect ahead?
- EU, Germany Manufacturing PMI data shows modest economic progress.
- U.S. jobless claims fell more than expected last week to 364K, a fresh pandemic low.
what to expect ahead?
- ACCORDING TO THE DATA RELEASES, DOWNTREND IS EXPECTED TO CONTINUE WITH A MAXIMUM TAREGT OF 1.1750 -
- ACCORDING TO FUNDAMENTALS, ECB AND FED MONETARY AND FISCAL POLICIES, GENERAL PRICE RANGE IS EXPECTED TO BE (1.1950-1.1750), MAIN TREND (DOWNTREND).
- ONLY THAT THE ( EU, GERMANY PMI DATA , EU UNEMPLOYMENT ) SHOWED MODEST PROGRESS, THEN PULLBACKS ARE NOT RULED OUT CAPPED BY YESTERDAY'S HIGH (1.1910).
- ACCORDING TO U.S. YESTERDAY'S NFP AND TODAY'S INITIAL JOBLESS CLAIMS DATA, TOMORROW'S NFP (JUNE) IS EXPECTED TO SHOW A PICK UP SUPPORTING THE DOWNTREND CONTINUATION.
MONETARY POLICY , FISCAL POLICY OF ECB AND FED
1- ECB (dovish, extended PEPP, modest inflation )
2- FED (recent dovish, withdrawing fiscal support, tapering talks, split on sooner than later to go hawkish)
- ACCORDING TO MONETARY POLICY , FISCAL POLICY OF ECB AND FED, THAT HAS THE BIGGEST EFFECT ON THE PAIR'S EXCHANGE RATE AND PRICE DIRECTION, I WOULD SAY THE PRICE RANGE IS EXPECTED TO BE (1.1950-1.1750) -
FUNDAMENTAL KEY QUOTES
- THE HIGHLY CONTAGIOUS DELTA STRAIN IS INDUCING RENEWED CURBS IN SOME EU COUNTRIES AS IT LOOMS LARGE OVER THE TOURISM SEASON IN EUROPE, WHILE IN U.S. DOES NOT PLAN TO REQUIRE THAT VISITORS NEED TO BE VACCINATED ( SIGNS FOR MORE EXPECTED DEMAND ON USD AND BETTER U.S. TOURISM RECOVERY ) -
- THIS OUTLOOK REMAINS ONLY TILL UPCOMING NEWS AND DATA THAT MAY CHANGE THE PRICE RANGE, SO I WILL UPDATE ACCORDINGLY -
- EU, Germany Manufacturing PMI data shows modest economic progress.
- U.S. jobless claims fell more than expected last week to 364K, a fresh pandemic low.
what to expect ahead?
- ACCORDING TO THE DATA RELEASES, DOWNTREND IS EXPECTED TO CONTINUE WITH A MAXIMUM TAREGT OF 1.1750 -
- ACCORDING TO FUNDAMENTALS, ECB AND FED MONETARY AND FISCAL POLICIES, GENERAL PRICE RANGE IS EXPECTED TO BE (1.1950-1.1750), MAIN TREND (DOWNTREND).
- ONLY THAT THE ( EU, GERMANY PMI DATA , EU UNEMPLOYMENT ) SHOWED MODEST PROGRESS, THEN PULLBACKS ARE NOT RULED OUT CAPPED BY YESTERDAY'S HIGH (1.1910).
- ACCORDING TO U.S. YESTERDAY'S NFP AND TODAY'S INITIAL JOBLESS CLAIMS DATA, TOMORROW'S NFP (JUNE) IS EXPECTED TO SHOW A PICK UP SUPPORTING THE DOWNTREND CONTINUATION.
MONETARY POLICY , FISCAL POLICY OF ECB AND FED
1- ECB (dovish, extended PEPP, modest inflation )
2- FED (recent dovish, withdrawing fiscal support, tapering talks, split on sooner than later to go hawkish)
- ACCORDING TO MONETARY POLICY , FISCAL POLICY OF ECB AND FED, THAT HAS THE BIGGEST EFFECT ON THE PAIR'S EXCHANGE RATE AND PRICE DIRECTION, I WOULD SAY THE PRICE RANGE IS EXPECTED TO BE (1.1950-1.1750) -
FUNDAMENTAL KEY QUOTES
- THE HIGHLY CONTAGIOUS DELTA STRAIN IS INDUCING RENEWED CURBS IN SOME EU COUNTRIES AS IT LOOMS LARGE OVER THE TOURISM SEASON IN EUROPE, WHILE IN U.S. DOES NOT PLAN TO REQUIRE THAT VISITORS NEED TO BE VACCINATED ( SIGNS FOR MORE EXPECTED DEMAND ON USD AND BETTER U.S. TOURISM RECOVERY ) -
- THIS OUTLOOK REMAINS ONLY TILL UPCOMING NEWS AND DATA THAT MAY CHANGE THE PRICE RANGE, SO I WILL UPDATE ACCORDINGLY -