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EUR/USD Daily Forecast – 16 August

Tuesday, Aug 15 2017
EUR/USD Daily Forecast – 16 August

From Eurozone, yesterday, German GDP figures were released. The German economy continues to grow. In the second quarter of 2017, the gross domestic product (GDP) rose 0.6% on the previous quarter after adjustment for price, seasonal and calendar variations. Based on most recent calculations, the Federal Statistical Office (Destatis) also reports that GDP growth in the first quarter of 2017 had been slightly larger (0.7%) The quarter-on-quarter comparison (upon adjustment for price, seasonal and calendar variations) shows that positive contributions came from domestic demand.

In the US session Retail Sales data was published. U.S. retail sales advanced in July by the most this year, with widespread gains from department stores to building materials outlets that signal a robust start to consumer spending in the third quarter, according to Commerce Department figures released Tuesday. Overall sales climbed 0.6% (est. 0.3% gain) after 0.3% advance in prior month (revised from 0.2% decline.

 

Tomorrow's session will bring Eurozone GDP figures. Analysts anticipate growth by 0.6% in Q2.  In the US session Building Permits and Housing Starts data will be released. Building Permits should decline to 1.25 million, while housing starts should incline slightly to 1.23 million.

 

Figures to watch:

 

Flash GDP (Wednesday 11:00)

Building Permits/Housing starts (Wednesday 14:30)

More in this category: « GBP/USD Daily Forecast – 16 August AUD/USD Daily Forecast – 17 August »

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