Daily forecast eur/xxx and usd/xxx - fundamental analysis
Good morning traders and happy Wednesday,
Today there are vital news for both the euro and the dollar and they deserve the most detailed analysis.
For more analyses like this do not hesitate to write to me, I will answer your doubts.
-Fundamental analysis
The Purchasing Manufacturing Index (PMI) is the main indicator that measures the level of activity of purchasing managers in the manufacturing sector. This indicator is quite revealing when we take into account the impact of this on two of the most important variables in the calculation of GDP, Investment and Consumption. The higher the figures for this impact, the higher the short-term and long-term forecasts for economic expansion.
In the German case we have a forecast of a manufacturing PMI of 52.5 (greater than 50 indicates expansion) which suggests that the eurozone's economic engine once again shows signs of a recovery in confidence in its economy. This would imply that the secondary sector whose relevance in German territory is more important than in any other territory of the eurozone would lead to an increase in investment by German entrepreneurs which would affect the consumption of families by encouraging a V-recovery that is gradually looming on the horizon of the German economic future. All this would be accompanied by a revaluation of the euro in the coming days.
Moreover, a PMI forecast of 53.1 (greater than 50 indicates expansion) in the U.S. coupled with the creation of more than 1.7 million jobs in July and 428,000 jobs in August would encourage the U.S. economy to continue to behave favorably despite the overall economic environment fostered by the coronavirus.
The creation of new jobs in key areas of the US secondary and tertiary sector is an improvement in macroeconomic forecasts for the latter part of the year contributing to greater confidence in the US domestic market in the short and medium term through increased private consumption.
All of this would in turn lead to a revaluation of his currency this week pending the appearance of Powell, president of the Fed, to be made shortly after the EEUU market opens.
For more analyses like this do not hesitate to write to me, I will answer your doubts.
Today there are vital news for both the euro and the dollar and they deserve the most detailed analysis.
For more analyses like this do not hesitate to write to me, I will answer your doubts.
-Fundamental analysis
The Purchasing Manufacturing Index (PMI) is the main indicator that measures the level of activity of purchasing managers in the manufacturing sector. This indicator is quite revealing when we take into account the impact of this on two of the most important variables in the calculation of GDP, Investment and Consumption. The higher the figures for this impact, the higher the short-term and long-term forecasts for economic expansion.
In the German case we have a forecast of a manufacturing PMI of 52.5 (greater than 50 indicates expansion) which suggests that the eurozone's economic engine once again shows signs of a recovery in confidence in its economy. This would imply that the secondary sector whose relevance in German territory is more important than in any other territory of the eurozone would lead to an increase in investment by German entrepreneurs which would affect the consumption of families by encouraging a V-recovery that is gradually looming on the horizon of the German economic future. All this would be accompanied by a revaluation of the euro in the coming days.
Moreover, a PMI forecast of 53.1 (greater than 50 indicates expansion) in the U.S. coupled with the creation of more than 1.7 million jobs in July and 428,000 jobs in August would encourage the U.S. economy to continue to behave favorably despite the overall economic environment fostered by the coronavirus.
The creation of new jobs in key areas of the US secondary and tertiary sector is an improvement in macroeconomic forecasts for the latter part of the year contributing to greater confidence in the US domestic market in the short and medium term through increased private consumption.
All of this would in turn lead to a revaluation of his currency this week pending the appearance of Powell, president of the Fed, to be made shortly after the EEUU market opens.
For more analyses like this do not hesitate to write to me, I will answer your doubts.
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