FOREX news for 4/12/2023

For the day of 4 December 2023, the key economic events likely to influence the Forex market, particularly for the euro (EUR) and the US dollar (USD), are as follows:

Economic Events for the Euro (EUR)

1. Trade balance - OCT (02h00) : With a result of 17.8 billion euros, this indicates a trade surplus, which could strengthen the euro.
2. Imports - OCT (02h00) : The figures come to 108.6 billion euros, an indicator of domestic demand.
3. Exports - OCT (02h00) : Exports reached 126.4 billion euros, a potentially positive factor for the euro.
4. Unemployment rate - Q3 (03h00) : Standing at 5.9%, this reflects the health of the job market.
5. Industrial Production (Year on Year) - OCT (06:00): Important indicator of economic health.
6. PMI Services - NOV (20:01): Measures activity in the services sector.

Economic Events for the US Dollar (USD)

1. Factory orders (10:00 ET): Key industrial production indicator.
2. Auction of 3 Month Treasury Bills (11.30am ET): Influences short-term interest rates.
3. Investor Movement Index (12:30 ET): Provides information on investor behaviour.
4. PMI Composite Final (09:45 ET): Indicator of global economic health.
5. ISM Services Index (10:00 ET): Measures activity in the US services sector.
6. JOLTS report (10:00 ET): Provides data on job vacancies and hiring in the United States.

Based on the economic events forecast for 4 December 2023, here are some investment recommendations for Forex traders:

1. EUR/USD EUR/USD: Particular attention should be paid to the eurozone's trade balance and industrial production indicators. Positive results for the euro could strengthen EUR/USD, while strong US data could favour the dollar, putting the pair under pressure.
2. Long or short positions USD: If US employment data (JOLTS report) and the ISM services index are better than expected, consider taking long positions in the USD against other currencies. Conversely, weaker-than-expected results could encourage short positions in the US dollar.
3. Technical Analysis Fundamental analysis: Complement fundamental analysis with technical analysis to identify key support and resistance levels, as well as potential trends.
4. Risk Management Given the potential volatility, it is crucial to maintain a sound risk management strategy, using stop losses and risking only a small portion of capital on a single transaction.

These recommendations are based on an analysis of economic events and should be used as part of your overall trading strategy, taking into account your own market analysis and risk tolerance.