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EUR/USD Daily Forecast – 07 November

Monday, Nov 06 2017
EUR/USD Daily Forecast – 07 November

From Eurozone, German Factory Orders and Eurozone PPI figures were released yesterday. Based on provisional data, the Federal Statistical Office (Destatis) reports that price-adjusted new orders in manufacturing had increased in September 2017 a seasonally and working-day adjusted 1.0% on the previous month. In the past two months, German companies have received almost as many orders as they did before the economic and financial crisis end of 2007. For August 2017, revision of the preliminary outcome resulted in increase of 4.1% compared with July 2017 (primary +3.6%). Price-adjusted new orders without major orders in manufacturing had increased in September 2017 a seasonally and working-day adjusted 1.3% on the previous month.

In September 2017, compared with August 2017, industrial producer prices rose by 0.6% in both the euro area (EA19) and the EU28. In August 2017, prices increased by 0.3% in the euro area and by 0.4% in the EU28. In September 2017, compared with September 2016, industrial producer prices rose by 2.9% in the euro area and by 3.3% in the EU28. The 0.6% increase in industrial producer prices in total industry in the euro area in September 2017, compared with August 2017, is due to rises of 1.5% in the energy sector, of 0.4% for intermediate goods and of 0.2% for durable consumer goods, while prices remained stable for capital goods and non-durable consumer goods. Prices in total industry excluding energy rose by 0.1%.

 

There will be no major data releases from Eurozone and USA on Monday so we expect a bit steadier session.

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