Starting the day |
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Good Morning! welcome to another day in forex market. Monday, as always, has been a boring day, with not much action around, and majors correcting last week rally. Yet the pause seems to come to an end and dollar continues falling, supported by good news both in Europe and England: German Retail sales early today come out far better than expected, and also did the Nationanwide House Prices in England, that remains the biggest winner these days. From the fundamental point of view, today we could see some more action, yet expect the markets to remain quiet tomorrow, ahead of the big Thursday. Anyway today, we have the following news, East time:
04:30 GBP Manufacturing PMI (Expected 49.8 Previous 50.0) High
10:00 US Construction Spending May (Expected -0.6% Previous -0.4%) Medium
10:00 US ISM Index June (Expected 48.6 Previous 49.6) High
Both indexes,PMI for GBP and ISM for US are expected under 50.0. A reading above 50.0 means growth, while under that mark means desaceleration.
In a few minutes, I will post the technical point of view
Have a great trading day!
Filed under: Forex Advisor
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