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EUR/USD Daily Forecast – 17 October

Monday, Oct 16 2017
EUR/USD Daily Forecast – 17 October

Yesterday's session brought Eurozone Trade Balance figures. The first estimate for euro area   (EA19) exports of goods to the rest of the world in August 2017 was €171.5 billion, an increase of 6.8% compared with August 2016 (€160.6 bn). Imports from the rest of the world stood at €155.4 bn, a rise of 8.6% compared with August 2016 (€143.1 bn). As a result, the euro area recorded a €16.1 bn surplus in trade in goods with the rest of the world in August 2017, compared with +€17.5 bn in August 2016. Intra-euro area trade rose to €132.9 bn in August 2017, up by 7.6% compared with August 2016.

In the US session Empire State Manufacturing Index data was published. Business activity grew at a robust pace in New York State, according to firms responding to the October 2017 Empire State Manufacturing Survey. The headline general business conditions index climbed six points to 30.2, its highest level in three years. The new orders index came in at 18.0 and the shipments index rose eleven points to 27.5—readings that pointed to ongoing solid gains in orders and shipments. Delivery times were slightly longer, and inventory levels decreased.

 

Tomorrow, from Eurozone, ZEW Economic Sentiment for Eurozone and Germany will be published. Incline to 20.3 and 34.2 respectively is anticipated. In the US session Industrial Production figures will be published. Analyst predict 0.4% increase.

 

Figures to watch:

 

German ZEW Economic Sentiment/ZEW Economic Sentiment (Tuesday 11:00)

Industrial Production (Tuesday 15:15)

More in this category: « GBP/USD Daily Forecast – 17 October AUD/USD Daily Forecast – 18 October »

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