From Eurozone, yesterday, Industrial Production figures were released. In October 2015 compared with September 2015, seasonally adjusted industrial production rose by 0.6% in the euro area (EA19) and by 0.5% in the EU28, according to estimates from Eurostat. In September 2015 industrial production fell by 0.3% in the euro area and remained stable in the EU28. In October 2015 compared with October 2014, industrial production increased by 1.9% in the euro area and by 2.4% in the EU28.
Euro rose against US dollar in the afternoon part of the session.
Since the European Central Bank’s decision to reduce deposit rates to 0.3%, and extend their quantitative easing programme until March 2017, the euro has risen in value against the dollar. This has reversed the trend in a year, as since February the euro has plummeted against the greenback. Even though the situation has currently improved, then euro is still way down on the $1.25 value at the beginning of the year.The Federal Reserve will meet on December 16, where an
interest rate rise is expected, with the strong likelihood that the euro will suffer a heavy fall against a rising dollar.
From Eurozone tomorrow, ZEW Economic Sentiment figures from Germany and Eurozone are scheduled for a release. Analysts are forecasting incline to 15.2 in German sentiment and to 34.4 points for Eurozone. In the US session CPI and Empire State Manufacturing Index data will be published. While no change is expected for CPI, Empire State Manufacturing Index should rise to -5.7.
Figures to watch:
German ZEW Economic Sentiment/ZEW Economic Sentiment (Tuesday 11:00)
CPI (Tuesday 14:30)
Empire State Manufacturing Index (Tuesday 14:30)
