The Euro will wait for the Minutes to be published in the evening. Overview for 05.04.2017

The main currency pair is falling a little bit on Wednesday afternoon in anticipation of important news.

On Wednesday, the EUR/USD pair is staying inside the narrow trading range. However, intraday movements seem pretty active, but in general the pair is moving to the upside at snail's pace. The current quote for the instrument is 1.0677.

Today, the Eurozone in general and some countries in particular published the statistics on the Final Services PMI. In Italy and Spain, as well as in the Eurozone the indicator decreased. For example, in the Eurozone the readings are 56.0 points (actual) and 56.5 points (previous and forecast). In France, in March the indicator fell up to 57.5 points against the expected reading of 58.5 points. Germany looks pretty stable with 55.6 points, the same as expected and previous.

It appears that in the very beginning of the consumer season, the tertiary industry of the Eurozone is not in its best shape. The situation may be improved by the middle of spring, but weak growth rates of consumers spending leaves a lot of risks.

This evening, the USA is starting to publish reports on the employment market. The first one is the ADP Non-Farm Employment Change. The expected reading is 184K and it may hardly beat the February number of 298K.  

Also, one should pay attention to the report at 6:00 PM GMT, the FOMC Meeting Minutes. The document is very unlikely to contain any really sensational materials, but investors are usually very attentive to it.

RoboForex Analytical Department