EUR/USD Daily Forecast - 20 December

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Monday, Dec 19 2016

EUR/USD Daily Forecast - 20 December

From Eurozone, yesterday, German Business Confidence figures were released. German business morale rose in December, a survey showed on Monday, hitting its highest level since February 2014 and supporting expectations that Europe's largest economy will rebound in the fourth quarter. The Munich-based Ifo economic institute said its business climate index, based on a monthly survey of some 7,000 firms, rose to 111.0 after from 110.4 in November.

In the US session services PMI data was published. Adjusted for seasonal influences, the Markit Flash U.S. Services PMI™ Business Activity Index posted 53.4 in December, down slightly from 54.6 in November but above the 50.0 no-change value for the tenth consecutive month. The average reading for the final quarter of 2016 (54.2) pointed to the steepest upturn in service sector output since Q4 2015.

There will be no major data releases both from Eurozone and USA tomorrow, so we can expect a bit steadier session.

More in this category: « GBP/USD Daily Forecast - 20 December AUD/USD Daily Forecast - 21 December »

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