Events to watch out for today:
15.30 Moscow time USA: Non-farm employment change for June.
The euro against the dollar forecast EURUSD today 02/07/2020
The ISM Manufacturing PMI index published the day before indicates a recovery in the US economy. The indicator overcame the 50% mark for the first time in the last three months. An ISM press release noted that a 52.6% PMI corresponds to a 2.9% GDP growth. Although the employment component has grown, it has not been able to exceed the level of 50%. If we add the output of moderately positive employment data from ADP, today's report on Non-Farm will not be able to please investors with strong data. On the eve of the American corporation Pfizer reported that the experimental vaccine against Covid-19 was successfully tested on 24 patients during the first phase of clinical trials. The company is moving to the second phase of research. There are only three phases and if this vaccine is viable, then it will begin to be used after about six months. Investors were optimistic about this news and began to actively sell the dollar against most currencies. Today, traders should wait for the continuation of the downtrend in the dollar.
EURUSD recommendation: Buy 1.1246 / 1.1220 and ta ke profit 1.1306
.jpeg)
