wrapper

EUR/USD Daily Forecast – 21 November

Tuesday, Nov 21 2017
EUR/USD Daily Forecast – 21 November

From Eurozone, yesterday, German PPI figures were released. In October 2017 the index of producer prices for industrial products rose by 2.7% compared with the corresponding month of the preceding year. In September 2017 the annual rate of change all over had been 3.1%, as reported by the Federal Statistical Office (Destatis). Compared with the preceding month September 2017 the overall index rose by 0.3% in October 2017 (+0.3% in September and +0.2% in August).

However, focus now is on German coalition process following tight elections. The failure of Angela Merkel to form a coalition government has sent shockwaves into forex and the Euro has been wounded. Chancellor Merkel will try to form a government, but if her attempts fail again it will make traders nervous as they contemplate an uncertain mid-term which could involve new German elections. Even in the best-case scenario, the presumptive coalition seemed poised to maintain the narrow, play-it-safe approach that has prevailed for almost two years.

 

There will be no data releases from Eurozone tomorrow. In the US session Existing Home Sales figures will be published. Analysts predict annual rate of 5.42 million.

 

Figures to watch:

 

Existing Home Sales (Tuesday 16:00)

More in this category: « GBP/USD Daily Forecast – 21 November AUD/USD Daily Forecast – 22 November »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.