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EUR/USD Daily Forecast – 11 December

Thursday, Dec 10 2015

Yesterday, only minor importance French CPI and Industrial Production data was released from Eurozone. In November 2015, the Consumer Price Index (CPI) fell back, decreasing by 0.2% after a rise by 0.1% in October. Seasonally adjusted, it was down 0.1% over the month. Year-on-year, consumer prices remained unchanged, after a slight growth in October (+0.1%).

In October 2015, output decreased in the manufacturing industry (–0.5% after –0.1% in September). It increased in the industry as a whole (+0.5% after 0.0% in September). Analysts were forecasting 0.1% decrease. Over the last three months, output rose in the manufacturing sector (+1.1% q-o-q), and even more in the overall industry (+1.4%), due to sustained growth in mining, quarrying, energy and water supply (+2.7%).

 

In the US session Unemployment Claims figures were released. In the week ending December 5, the advance figure for seasonally adjusted initial claims was 282,000, an increase of 13,000 from the previous week's unrevised level of 269,000. Analysts were anticipating decline to 266,000. The 4-week moving average was 270,750, an increase of 1,500 from the previous week's unrevised average of 269,250.

 

Tomorrow's session should be less volatile with no major data releases from Eurozone. In the US session Retail Sales, PPI and Consumer Sentiment figures are scheduled for a release. Analysts are predicting 0.2% increase in Retail Sales, while PPI should remain unchanged. Consumer Sentiment is expected to edge slightly higher to 92.3 points.

 

Figures to watch:

 

Retail Sales (Friday 14:30)

PPI (Friday 14:30)

Prelim UoM Consumer Sentiment (Friday 16:00)

More in this category: « GBP/USD Daily Forecast – 11 December AUD/USD Daily Forecast – 14 December »

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