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AUD/USD Daily Forecast - 14 December

Tuesday, Dec 13 2016
AUD/USD Daily Forecast - 14 December

Yesterday's session brought German and Eurozone ZEW Economic Sentiment figures. The ZEW Indicator of Economic Sentiment for Germany has remained unchanged at a level of 13.8 points (long-term average: 24.0 points) in December 2016. "The ZEW Indicator of Economic Sentiment remains at the same level; however, given the fact that the evaluation of the current situation has once again recorded an improvement, the overall assessment is quite positive. This is supported by the recently published positive GDP growth figures for the euro area in the third quarter. The considerable economic risks arising from the tense situation in the Italian banking sector, as well as the political risks surrounding upcoming elections in Europe, seem to have faded into the background at the moment," comments ZEW President Professor Achim Wambach.

As already mentioned, the current economic situation in Germany has improved significantly. Growing by 4.7 points, the index now stands at 63.5 points. Financial market experts’ sentiment concerning the economic development of the eurozone has marginally improved, with the respective indicator increasing by 2.3 points to a reading of 18.1 points. The indicator for the current economic situation in the eurozone climbed one point to a level of minus 8.3 points in December 2016.

 

From Eurozone, tomorrow, Industrial Production data will be published. Analysts predict 0.2% increase. In the US session PPI, Retail Sales and Industrial Production figures will be released as well as FOMC interest rate decision and the following press conference. Retail Sales are expected to increase by 0.3%, while PPI should rise by 0.1%. On the other hand Industrial Production is expected to decline by 0.2%. However, the focus of the session will be on FOMC interest rate decision with anticipated rate hike to 0.75%.

 

Figures to watch:

 

Industrial Production (Wednesday 11:00)

PPI (Wednesday 14:30)

Retail Sales (Wednesday 14:30)

Industrial Production (Wednesday 15:15)

Federal Funds Rate/FOMC Statement (Wednesday 20:00)

More in this category: « EUR/USD Daily Forecast - 13 December GBP/USD Daily Forecast - 14 December »

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