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EUR/USD Daily Forecast – 09 February

Monday, Feb 08 2016

Yesterday's session brought Sentix Investor Confidence figures from Eurozone. The euro zone proves, is it any wonder there, as not immune to the enormous loss of momentum in the global economy. The sentix economic sentiment indicator for the euro zone loses again 3.6 points and is thus at only +6 points. The current assessment index falls for the third time in a row to its lowest level since April 2015. The expectation index got hit even harder. With +1.5 points the index is at the lowest level since November 2014.

Germany does extensive trade with China, so the downturn which has gripped the Asian giant, the world’s No. 2 economy, has produced strong ripples across the globe and taken its toll on the eurozone manufacturing sector.In the week ahead, there are a few items of moderate importance and one that is exceptional. Import inflation, retail sales, consumer confidence and a few Fed speeches will hit the radar. However, it is Fed Chairwoman Janet Yellen’s semi-annual report on monetary policy in Congress that will give us the most definitive read on the group’s views of monetary policy timing.

 

There will be no major data releases both from Eurozone tomorrow, In the US session JOLTS Job Openings figures will be published. Increase by 5.54 million is forecasted.

 

Figures to watch:

 

JOLTS Job Openings (Tuesday 16:00)

More in this category: « GBP/USD Daily Forecast – 09 February AUD/USD Daily Forecast – 10 February »

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