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EUR/USD Daily Forecast - 31 March

Wednesday, Mar 30 2016

From Eurozone, yesterday, German CPI data was published. The inflation rate in Germany as measured by the consumer price index is expected to be +0.3% in March 2016. Based on the results available so far, the Federal Statistical Office (Destatis) also reports that the consumer prices will increase by 0.8% on February 2016. The harmonised index of consumer prices for Germany, which is calculated for European purposes, is expected to be up 0.1% in March 2016 year on year. Compared with February 2016, it is expected to rise by 0.8%. Analysts were anticipating increase by 0.6%.

In the US session ADP Employment Change figures were released. Private sector employment increased by 200,000 jobs from February to March according to the March ADP National Employment Report. Increase by 193,000. "The Trade, Transportation and Utilities sector had its best month of employment gains since last June,” said Ahu Yildirmaz, VP and head of the ADP Research Institute. “Steady employment growth and accelerating wage growth in the workforce appear to be benefitting the Trade segment in particular.”

 

From Eurozone, on Thursday, German Retail Sales and Unemployment Change, Spanish and Eurozone CPI data is scheduled for a release. German Retail Sales are expected to rise by 0.3%, and number of unemployed should decrease by 6,000. On the other hand, Spanish CPI should fall by 0.6% and Eurozone CPI should decline by 0.1%. In the US session Unemployment Claims and Chicago PMI figures will be published. Analysts forecast increase to 266,00 in Unemployment Claims and incline to 50.5 in Chicago PMI.

 

Figures to watch:

 

German Retail Sales (Thursday 08:00)

Spanish Flash CPI (Thursday 09:00)

German Unemployment Change (Thursday 09:55)

CPI Flash Estimate (Thursday 11:00)

Unemployment Claims (Thursday 13:30)

Chicago PMI (Thursday 14:45)

Last modified on Wednesday, 30 March 2016
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