# Forex Major Currencies Outlook (Mar 02, 2017) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-mar-02-2017/ Language: en Updated: 2017-03-02 Description: Explore Forex Major Currencies Outlook (Mar 02, 2017). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar continued to rally against its counterparts as traders focused on Fed rate hike talks and the fact that Trump sounded more presidential in his recent testimony in front of Congress. Economic data was also mostly stronger than expected, with the ISM manufacturing PMI up form 56.0 to 57.7 versus the 56.2 forecast. Core PCE price index came in line with expectations of a 0.3% gain while personal income picked up by 0.4% versus 0.3% to reflect stronger wage growth. Challenger job cuts and initial jobless claims data are due today. **EUR** The euro rallied on mostly upbeat data but wound up returning its intraday gains. German unemployment fell by 14K versus the projected 10K drop while final manufacturing PMI readings printed mixed results. German import prices, Spanish unemployment change, and flash CPI estimates are lined up today. Weaker inflationary pressures could underscore Draghi’s view that the pickup has just been temporary, keeping the ECB on its dovish stance. **GBP** The pound tanked across the board when the Brexit bill continued to encounter friction in the House of Lords. Amendments to the status of UK citizens in EU nations are being urged so this could mean a delay in Prime Minister May’s Article 50 timeline and more uncertainty. UK manufacturing PMI turned out weaker than expected by falling from 55.7 to 54.6 versus the estimated rebound. The construction PMI is due today and no change to the earlier 52.2 reading is eyed. **CHF** The franc consolidated to the euro but picked up against the pound and Japanese yen. Swiss manufacturing PMI climbed from 54.6 to 57.8 to reflect a much faster pace of industry expansion while the UBS consumption indicator improved from 1.38 to 1.43. Swiss GDP is due today and a 0.5% expansion is eyed. **JPY** The yen was in a weak spot against some of its counterparts as demand for the dollar picked up again. There were no major reports out of Japan then so the moves were mostly due to changing market sentiment. Japanese household spending and CPI figures are due in the next Asian session. **Commodity Currencies (AUD, NZD, CAD)** The Aussie was unable to gain much traction even after the GDP report printed a stronger 1.1% growth versus the projected 0.7% figure. China’s PMI readings also beat expectations, signaling stronger demand for Australia’s raw material products. The BOC kept rates on hold at 0.50% as expected while downplaying the recent increase in employment and inflation. Canada’s GDP is due next and a 0.3% expansion is eyed. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-mar-02-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-mar-02-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-mar-02-2017/", "headline": "Forex Major Currencies Outlook (Mar 02, 2017)", "inLanguage": "en", "datePublished": "2017-03-02T08:41:06+00:00", "dateModified": "2017-03-02T08:41:06+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Mar 02, 2017). USDThe US. 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