Here are the key factors to keep in mind today for Euro trades:
- German Factory Orders: German factory orders contracted by 0.2% in May monthly, but posted an annualized increase of 4.7%. Expectations called for a monthly contraction of 0.4% and an annualized increase of 3.8%. Forex traders can compare this to the 2.2% increase reported in April and the annualized increase of 1.3%.
- German Markit Construction PMI: The German construction sector showed little change as the Markit Construction PMI was reported at 50.7 for June. This was slightly below the 50.8 which was reported in the German Markit Construction PMI for May. Any level above 50 signals expansion.
- Eurozone Markit Retail PMI: The Eurozone retail sector slowed down in June. The Eurozone Markit Retail PMI was reported at 50.4 in June which compares to the 51.4 reported in May. The Markit German Retail PMI dropped to 54.0 in June from the 55.8 reported in May. The Italy Markit Retail PMI decreased to 46.7 in June from 48.3 reported in May. The France Markit Retail PMI rose to 48.9 in June from the 48.7 which was reported in May.
- Eurozone Sentix Investor Confidence: Investors are more confident about the Eurozone as economists expected. The Eurozone Sentix Investor Confidence Index rose to 18.5 for July. Expectations called for a decrease to 15.0 in July which can be compared to the 17.1 reported in June.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss CPI: There was some minor inflation to be reported in Switzerland which surprised economists looking for deflation. The CPI rose 0.1% in June monthly, but did contract by 1.0% year-over-year. Economists were looking for a monthly contraction of 0.1% in June and an annualized contraction of 1.2%. Forex traders can compare this to the 0.2% increase reported in May monthly and annualized contraction of 1.2%. The EU Harmonized CPI fared even better. Economists expected a monthly contraction of 0.1% and an annualized contraction of 1.0% for June. The release report showed an increase of 0.2% monthly and an annualized contraction of only 0.6%. This can be compared to May’s flat reading monthly and annualized contraction of 0.9%. This will make the next CPI report for July a very important one as it could start a trend which feature higher inflation out of Switzerland.
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