Forex Investment and Currency Trading

EURO The July PMI manufacturing was revised down slightly. The weakness came from Spain, Italy and France, pointing to stagnation at best, and recession risks at worst. Meanwhile, the German PMI held up marginally above the boom-bust threshold, confirmed at 50.9 in July from 52.6 in June. German retail sales were weak in June versus consensus. [...]

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MBA Mortgage Applications (Prior: -6.2%, Actual: -14.1%)
ADP Employment Change (Survey: -60K, Actual: 9K)
USD
Commodity currencies continue to lead the dollar bull charge as Aud and Nzd continue to show bleaker economic outlooks. Gold sold off hard and oil is sitting on significant 120.0 support a break of which could trigger a nice dollar rally.  The [...]

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EUR/USD – Must remain above key support at 1.5344 in order to maintain bullish outlook. EUR/USD produced a bearish short-term trend reversal below 1.5828 earlierthis week. A close below support at 1.5613 would favour a deeper pullback to the key triple bottom at 1.5344. However this level must hold in order to sustain bullish stance [...]

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