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EUR/USD Daily Forecast – 09 November

Wednesday, Nov 08 2017
EUR/USD Daily Forecast – 09 November

From Eurozone, yesterday, French Trade Balance figures were released. France's trade deficit widened in September to stand at 4.7 billion euros ($5.45 billion) from 4.2 billion in the previous month, the custom's office said on Wednesday, as imports outpaced exports due partly to fewer overseas sales of agricultural products and industrial machinery. Imports in September had risen to 44.5 billion euros compared to 44.4 billion euros in August, while exports rose to 40.3 billion euros in September versus 40.2 billion in August.

In the US session Crude Oil Inventories data was published. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.2 million barrels from the previous week. At 457.1 millionbarrels, U.S. crude oil inventories are in the upper half of the average range for this timeof year. Total motor gasoline inventories decreased 3.3 million barrels last week, and arein the lower half of the average range. Finished gasoline inventories increased, but blending components inventories decreased last week.

 

There will be no major data releases from Eurozone tomorrow. In the US session Unemployment Claims figures will be published. Analysts predict increase to 232,000.

 

Figures to watch:

 

Unemployment Claims (Thursday 14:30)

More in this category: « GBP/USD Daily Forecast – 09 November AUD/USD Daily Forecast – 09 November »

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