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EUR/USD Daily Forecast - 22 December

Friday, Dec 19 2014

European session on Friday was marked by Gfk German Consumer Climate figures. Development of consumer sentiment in Germany has been very robust in December, with the consumer climate maintaining its upward trend. Following a value of 8.7 points in December, the overall indicator is forecasting 9.0 points for January 2015. This was in line with market forecasts. Economic expectations and willingness to buy are improving, while income expectations have declined.

 

 

Euro continues its downtrend from Wednesday when it was pushed lower after FOMC Press Conference. Also, there are many concerns surrounding Eurozone, with inflation rate still far from ECB target. This means that we could be expecting further monetary measures in the first quarter of 2015. Recent Economic and Consumer Sentiment data did show improvements but did is also due to holiday season.

 

On Monday we can expect a steadier European part of the session as there will be no major data releases from Eurozone. In the US session Existing Home Sales figures are scheduled for a release. Analysts predict a figures of around 5.21 million.

 

Figures to watch:

 

Existing Home Sales (Monday 16:00)

Last modified on Tuesday, 23 December 2014
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