this week long
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US ISM Manufacturing PMI: Monday, 14:00. ISM manufacturing PMI exceeded expectations in February hitting 57.7. This was the highest reading since December 2014, indicating solid growth in the manufacturing sector. Analysts expected a climb to 56.2. Despite the fact that the ISM and the manufacturing PMI figures did not coincide, the general trend shows the manufacturing sector is robust. Manufacturing PMI is expected to decline to 57.2 in March.This is going to have an impact on the dollar,so if the announced data meets the expectations,we could see the greenback loosing value against all the major currencies.We recommend opening shorts on usd pairs.
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German Factory Orders: Thursday, 6:00. The Factory orders released by the Deutsche Bundesbank is an indicator that includes shipments, inventories, and new and unfilled orders. An increase in the factory order total may indicate an expansion in the German economy and could be an inflationary factor.The expectations are for an increase to 3,5% from last months (Feb) -7,4%.If the watch the dynamics of this indicator for the last couple of months we can see that it’s a very volatile indicator.We are not sure if this prediction is going to meet the announced data ,but if it meets them open long positions ,but do not expect big impacts
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Go long
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maybe eurusd reverse to this level and go to 1.09000