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EUR/USD Daily Forecast – 26 October

Wednesday, Oct 25 2017
EUR/USD Daily Forecast – 26 October

Focus of yesterday's session was on German Business Climate figures. A euphoric mood among German constructors and manufacturers drove business confidence to an all-time high in October, a survey showed, reflecting optimism that an upswing in Europe’s largest economy has further to run. The Munich-based Ifo economic institute said on Wednesday its business climate index, based on a monthly survey of some 7,000 firms, rose to 116.7 from an upwardly revised 115.3 in September. Ifo said a continuing recovery in the euro zone was helping German exporters feel more positive.

In the US session Durable Goods Orders data was published. U.S. orders for business equipment increased more than forecast in September, indicating solid investment momentum as the third quarter drew to a close, Commerce Department figures showed Wednesday. Non-military capital goods orders excluding aircraft climbed 1.3% (est. 0.3% gain) for a third straight month. Shipments of those goods, which are used to calculate gross domestic product, rose 0.7% (est. 0.1% gain) after a revised 1.2% advance. Bookings for all durable goods jumped 2.2% (est. 1% advance) following 2% increase. Excluding transportation-equipment demand, which is volatile, orders rose 0.7% for a second month.

 

Focus of tomorrow's session will be ECB interest rate decision and the following press conference though no change is expected. In the US session Unemployment Claims figures will be released. Analysts forecast increase to 235,000.

 

Figures to watch:

 

Minimum Bid Rate/ECB Press Conference (Thursday 14:30)

Unemployment Claims (Thursday 14:30)

More in this category: « GBP/USD Daily Forecast – 26 October AUD/USD Daily Forecast – 27 October »

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