# Forex Major Currencies Outlook (Mar 07, 2017) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-mar-07-2017/ Language: en Updated: 2017-03-07 Description: Explore Forex Major Currencies Outlook (Mar 07, 2017). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar held on to most of its recent gains as January factory orders came in slightly better than expected at 1.2% versus 1.1%. This marks the second consecutive positive reading, signaling strong manufacturing activity down the line. US trade balance is due today and a wider deficit of $47 billion is eyed. **EUR** The euro lost a lot of ground when news broke out that Juppe won’t be running for President in the upcoming elections. This led market watchers to fear that some of his supporters could give their votes to Le Pen, although her lead has been dropping against Macron. Euro zone retail PMI dipped from 50.1 to 49.9 to indicate contraction while the Sentix investor confidence index improved from 17.4 to 20.7. **GBP** The pound was also in a weak spot even though there were no major reports out of the UK economy yesterday. UK Halifax HPI is due today and a 0.4% rebound in house prices is eyed. Earlier today, the BRC retail sales monitor showed a 0.4% downtick, slower than the earlier 0.6% drop. **CHF** The franc seems to be resuming its slide against its peers, taking the brunt of the European uncertainty plays instead of the euro and the pound. SNB foreign currency reserves data is due today and an increase from the earlier 644 billion CHF figure could be evidence of slight intervention. **JPY** The yen had a mixed performance as it slid lower to the comdolls but advanced to the European currencies. There were no reports out of Japan yesterday and none are due today, indicating that the currency is reacting to country-specific events and market sentiment. Japanese final GDP and current account balance are due in the next Asian session. **Commodity Currencies (AUD, NZD, CAD)** The comdolls were mostly weaker against the dollar but they did manage to stem their declines against the euro and the pound. Australian retail sales came in line with expectations of a 0.4% uptick and traders are awaiting a relatively upbeat RBA statement today. Canadian Ivey PMI is due next and a rise from 57.2 to 58.9 is eyed while New Zealand will have its GDT auction in the latter part of the US session. *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-07-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-mar-07-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-mar-07-2017/", "headline": "Forex Major Currencies Outlook (Mar 07, 2017)", "inLanguage": "en", "datePublished": "2017-03-07T07:58:25+00:00", "dateModified": "2017-03-07T07:58:25+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Mar 07, 2017). USDThe US. 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