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US NFIB small business optimism index beats forecasts- check out the EUR/USD
The latest reading of the US NFIB small business optimism index has just now been released and it has beaten forecasts. The index last stood at 91.5 and was expected to remain unchanged in July. Well, it has actually risen to 93.7 and that is quite a beat by recent standards. This index is not always immediately important, when it comes to the price action on the dollar. At the same time it is not to be overlooked, as it does give an indication on future hiring trends amongst the huge number of small to medium sized US business that are often the life blood of the US economy. So, this is good news from that perspective today. As for the dollar? Well, not much changed, but if we add this data to the really poor German ZEW index it should be pushing the EUR/USD lower again. Well, not exactly just yet, but there is not much of an excuse to push it higher right now, that is for sure. The EUR/USD is right now trading at 1.0918
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