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EUR/USD Daily Forecast – 18 January

Tuesday, Jan 17 2017
EUR/USD Daily Forecast – 18 January

Yesterday's session brought ZEW Economic Sentiment figures. The ZEW Indicator of Economic Sentiment for Germany has increased slightly in January 2017. The index has improved by 2.8 points compared to December, now standing at 16.6 points. "The slight increase of the ZEW Indicator of Economic Sentiment is mainly due the improved economic situation across European countries. The fairly good preliminary figures recorded for the development of the German GDP last year, as well as for the industrial production of the eurozone in November 2016, came as a surprise to many. This improvement in expectations can thus also be seen as a leap of faith for 2017," comments ZEW President Professor Achim Wambach,PhD.

As a result, the current economic situation in Germany has improved significantly. The index has climbed 13.8 points to a current reading of 77.3 points. This value was last exceeded in July 2011. Financial market experts’ sentiment concerning the economic development of the eurozone has also improved, with the respective indicator increasing by 5.1 points to a reading of 23.2 points. The indicator for the current economic situation in the eurozone climbed 7.9 points to a level of minus 0.4 points in January 2017.

 

There will be no major data releases from Eurozone tomorrow. In the US session CPI and Industrial Production figures will be published. Analysts forecast 0.3% increase in CPI and 0.8% rise in Industrial Production.

 

Figures to watch:

 

CPI (Wednesday 14:30)

Industrial Production (Wednesday 15:15)

More in this category: « GBP/USD Daily Forecast – 18 January AUD/USD Daily Forecast – 23 January »

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