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EUR/USD Daily Forecast – 19 October

Wednesday, Oct 18 2017
EUR/USD Daily Forecast – 19 October

There were no data releases from Eurozone yesterday. According to a recent report by Reuters, a senior German government official noted that the EU government leaders could signal at the summit on October 19/20 that the EU27 would prepare internally for the next phase of Brexit talks and the transition period. Europe's leaders have revealed frustrations about Theresa May's Government's approach to Brexit, claiming there is a lack of clarity as a result of divisions within her administration.

In the US session Building Permits and Housing Starts figures were released. U.S. homebuilding fell to a one-year low in September as Hurricanes Harvey and Irma disrupted the construction of single-family homes in the South, suggesting housing probably remained a drag on economic growth in the third quarter. Housing starts decreased 4.7 percent to a seasonally adjusted annual rate of 1.127 million units last month, the Commerce Department said. That was the lowest level since September 2016 and marked the third monthly decline in starts. Building permits fell 4.5 percent to a rate of 1.215 million units in September.

 

There will be no major data releases from Eurozone tomorrow. In the US session Unemployment Claims and Philly Fed Manufacturing Index figures will be released. Analyst expect decrease to 243,00 in Unemployment Claims and fall to 21.9 in Philly Fed Manufacturing Index.

 

Figures to watch:

 

Unemployment Claims (Thursday 14:30)

Philly Fed Manufacturing Index (Thursday 14:30)

More in this category: « GBP/USD Daily Forecast – 19 October AUD/USD Daily Forecast – 20 October »

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