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EUR/USD Daily Forecast – 20 April

Tuesday, Apr 19 2016

From Eurozone, yesterday, ZEW Economic Sentiment data was released. The ZEW Indicator of Economic Sentiment for Germany has increased for the second time in a row in April 2016. The index has gained 6.9 points compared to the previous month, now totaling 11.2 points. Financial market experts‘ expectations in regard to developments in the Eurozone are improving. The Indicator of Economic Sentiment has recovered by 10.9 points, reaching 21.5 points.

In the US session Housing Starts and Building Permits figures were published. New-home construction in the U.S. slumped more than projected in March, reflecting a broad-based retreat that showed the industry lost momentum heading into the busiest time of year. Residential starts decreased 8.8% to a 1.09 million annualized rate that was the lowest since October. Permits, a proxy for future construction, also dropped. Estimates of 78 economists polled ranged from 1.12 million to 1.22 million. The previous month was revised up to 1.19 million from a 1.18 million pace. Permits decreased 7.7% to a 1.09 million annualized rate, the fewest in a year.

 

There will be no data releases both from Eurozone tomorrow. In the US session Existing Home Sales figures will be released. Analysts predict increase to 5.29 million.

 

Figures to watch:

 

Existing Home Sales (Wednesday 16:00)

More in this category: « GBP/USD Daily Forecast – 20 April AUD/USD Daily Forecast – 21 April »

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