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EUR/USD Daily Forecast – 18 July

Monday, Jul 17 2017
EUR/USD Daily Forecast – 18 July

From Eurozone, yesterday, Final CPI figures were released. Euro area annual inflation was 1.3% in June 2017, down from 1.4% in May. In June 2016 the rate was 0.1%. European Union annual inflation was 1.4% in June 2017, down from 1.6% in May. A year earlier the rate was 0.1%. These figures come from Eurostat, the statistical office of the European Union. The largest upward impacts to the euro area annual inflation came from accommodation services (+0.08 percentage points), package holidays (+0.06 pp) and tobacco (+0.04 pp), while telecommunication (-0.10 pp), social protection (-0.04 pp) and bread & cereals (-0.03 pp) had the biggest downward impacts.

In the US session Empire State Manufacturing Index data was published. Business activity grew modestly in New York State, according to firms responding to the July 2017 Empire State Manufacturing Survey. The headline general business conditions index fell ten points to 9.8. The new orders index moved down to 13.3, and the shipments index fell to 10.5, suggesting that orders and shipments continued to grow, though at a somewhat slower pace than in June. Delivery times continued to lengthen, and inventory levels were fairly steady.

 

Focus of tomorrow’s session will be on ZEW Economic Sentiment figures. Analysts predict decline to 17.8 in German Sentiment and to 37.2 in Eurozone Economic Sentiment. There will be no major data releases in the US part of the session.

 

Figures to watch:

 

ZEW Economic Sentiment (Tuesday 11:00)

More in this category: « GBP/USD Daily Forecast – 18 July AUD/USD Daily Forecast – 19 July »

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