The Euro is back to falling. Overview for 01.07.2020

01.07.2020

EURUSD is retreating on Wednesday afternoon; investors are trying to avoid risks. 

The major currency pair is retreating on Wednesday amid another wave of escaping risks. The current quote for the instrument is 1.1195.

The statistics published in the afternoon were rather neutral but investors aren’t feeling good today. For example, the final Manufacturing PMI in the Euro Area was 47.4 points in June against the preliminary reading of 46.9 points. The same indicator for Germany was 45.2 points after the first estimate of 44.6 points. It’s quite good. 

However, market players are watching the news that is showing new outbreaks of the coronavirus and they didn’t make anyone happy. 

Later in the evening, the USA is scheduled to start reporting on its labor market in June. Traditionally, the first report to be published is the ADP Non-Farm Employment Change, which is expected to improve after three months of plunging. If it does, the USD will get significant support. 

This week, the package of reports on the US labor market is set to be released onу day earlier that usually due to a day off on Friday. It appears that tomorrow’s trading session is going to be really active and eventful but the expected numbers are quite good. 

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.