The greenback strengthened on Wednesday, and the EURUSD pair fell to the 1.12 level, following a series of macro data both from the EU and US.

Earlier in the data, data showed that the German unemployment rase to five-year highs, and it printed 6.4%, which was slightly better than 6.6% expected by analysts. The unemployment change for June also improved to 69,000 from 238,000 in May. 

Moreover, German retail sales jumped higher in May to 3.8% year-on-year (up from -6.4% previously), while the monthly change accelerated sharply. from -6.5% to 13.9%. 

The focus then switched onto the US data. The ADP employment report showed the US economy created 2,369 K new jobs in June, which was below expectations of 3,000K. However, the last month's number was revised from -2,760K to 3,065K, which was a very positive sign. Although, these statistical errors could occur in the official figures for weeks to come. 

Later in the day, the US manufacturing ISM is forecast to improve notably to 49.5f from 43.1 previously. 

Overall, the start of the new quarter was not so positive as the risk-off trading prevailed in the markets, which benefited the US dollar. Equities also fell as COVID cases continue to rise, unfortunately.

Trading FX/CFDs on margin bears a high level of risk, and may not be suitable for all investors. Before deciding to trade FX/CFDs you should carefully consider your investment objectives, level of experience, and risk appetite. You can sustain significant loss.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.

EUR/USD News

GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.

GBP/USD News

XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI once again breaks $40 per barrel after trading lower in early EU trade

There has been quite the bounce in WTI since the EU session after some strong selling pressure during Thursday and overnight. Once again on Friday's session, the price has taken the USD 40 per barrel handle. 

Oil News

Forex Majors

Cryptocurrencies

Signatures