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EUR/USD Daily Forecast – 20 September

Tuesday, Sep 19 2017
EUR/USD Daily Forecast – 20 September

Yesterday's session was marked by German and Eurozone Economic Sentiment figures. The ZEW Indicator of Economic Sentiment for Germany improved in September 2017. Climbing 7.0 points compared to the previous month, the indicator now stands at 17.0 points. The indicator, however, still remains below the long-term average of 23.8 points.“ The financial market experts’ assessment of the economic development of the Eurozone has also improved, with the respective indicator increasing by 2.4 points to a reading of 31.7 points.

In the U.S. session Housing Starts and Building Permits data was published. Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,300,000. This is 5.7 percent above the revised July rate of 1,230,000 and is 8.3 percent above the August 2016 rate of 1,200,000. Single-family authorizations in August were at a rate of 800,000; this is 1.5 percent below the revised July figure of 812,000. Authorizations of units in buildings with five units or more were at a rate of 464,000 in August. Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,180,000.

There will be no major data releases from Eurozone tomorrow. US session will be marked by Fed's interest rate decision and the following press conference, though no change in interest rates is anticipated.

 

Figures to watch:

 

Federal Funds Rate/FOMC Economic Projections/FOMC Press Conference (Wednesday 20:00)

More in this category: « GBP/USD Daily Forecast – 20 September AUD/USD Daily Forecast – 21 September »

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