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EUR/USD Daily Forecast – 17 January

Monday, Jan 16 2017
EUR/USD Daily Forecast – 17 January

Yesterday, from Eurozone, Trade Balance figures were published. The first estimate for euro area (EA19) exports of goods to the rest of the world in November 2016 was €184.2 billion, an increase of 6% compared with November 2015 (€173.8 bn). Imports from the rest of the world stood at €158.3 bn, a rise of 5% compared with November 2015 (€150.9 bn). As a result, the euro area recorded a €25.9 bn surplus in trade in goods with the rest of the world in November 2016, compared with +€22.9 bn in November 2015. Intra-euro area trade rose to €154.0 bn in November 2016, up by 5% compared with November 2015.

In January to November 2016, euro area exports of goods to the rest of the world stood at €1 869.0 bn (nearly stable compared with January-November 2015) and imports at €1 620.8 bn (a decrease of 2% compared with January-November 2015). As a result the euro area recorded a surplus of €248.2 bn, compared with +€214.3 bn in January-November 2015. Intra-euro area trade rose to €1 569.0 bn in January-November 2016, up by 1% compared with January-November 2015.

 

As for tomorrow, ZEW Economic Sentiment for Germany and Eurozone will be published, with analysts predicting increase to 18.9 and 24.2 respectively. There will be no major data releases in the US part of the session.

 

Figures to watch:

 

German ZEW Economic Sentiment/ZEW Economic Sentiment (Tuesday 11:00)

More in this category: « GBP/USD Daily Forecast – 17 January AUD/USD Daily Forecast – 18 January »

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