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EUR/USD Daily Forecast – 26 January

Wednesday, Jan 25 2017
EUR/USD Daily Forecast – 26 January

From Eurozone, yesterday, German Business Sentiment data was released. Sentiment among German managers weakened in January. The Ifo Business Climate Index fell to 109.8 points this month from 111.0 points in December. Companies expressed greater satisfaction with their current business situation, but are less optimistic about their six-month business outlook. The German economy made a less confident start to the year. In the manufacturing sector, the index fell. This was due to markedly less optimistic business expectations. Manufacturers, however, were more satisfied with their current business situation.

In the US session Crude Oil Inventories figures were published. Oil futures extended losses on Wednesday after the U.S. Energy Information Administration reported an increase of 2.8 million barrels in domestic crude-oil supplies for the week ended Jan. 20. The American Petroleum Institute late Tuesday reported a rise of 2.9 million barrels, according to sources, while analysts polled by S&P Global Platts forecast a climb of 1.9 million barrels.

 

There will be no major data releases from Eurozone tomorrow. In the US session, Unemployment Claims and New Home Sales figures are scheduled for a release. Unemployment Claims are expected to increase to 247,000, while New Home Sales should decline to 585,000.

 

Figures to watch:

 

Unemployment Claims (Thursday 14:30)

New Home Sales (Thursday 14:30)

More in this category: « GBP/USD Daily Forecast – 26 January AUD/USD Daily Forecast – 27 January »

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