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EUR/USD Daily Forecast – 27 November

Saturday, Nov 25 2017
EUR/USD Daily Forecast – 27 November

Friday's session brought German Business Climate figures. Sentiment among German businesses is very strong. The ifo Business Climate Index rose to a new record high of 117.5 points in November from 116.8 (Seasonally adjusted.) points in October. This was due to far more optimistic business expectations. Companies’ assessments of the current business situation were no longer as positive as last month. The German economy is on track for a boom. The latest figures indicate economic growth of 0.7 percent in the fourth quarter, pointing to growth of 2.3 percent for 2017 as a whole.

In the US session Manufacturing PMI data was published. November data pointed to another solid increase in U.S. private sector output, supported by sustained growth in both manufacturing and services activity. At 54.6, the seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index was above the 50.0 no-change threshold, but eased from 55.2 in October. As a result, the latest reading signalled the slowest expansion of private sector output since July. Despite a softer upturn in business activity, survey respondents indicated a robust and accelerated rise in new order volumes during November.

 

There will be no major data releases from Eurozone on Monday. In the US session New Home Sales figures will be published. Analysts anticipate decline to 627,000.

 

Figures to watch:

 

New Home Sales (Monday 16:00)

More in this category: « GBP/USD Daily Forecast – 27 November AUD/USD Daily Forecast – 28 November »

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