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EUR/USD Daily Forecast – 01 December

Thursday, Nov 30 2017
EUR/USD Daily Forecast – 01 December

Yesterday's session was marked by Eurozone CPI figures. Euro area annual inflation is expected to be 1.5% in November 2017, up from 1.4% in October 2017, according to a flash estimate from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in November (4.7%, compared with 3.0% in October), followed by food, alcohol & tobacco (2.2%, compared with 2.3% in October), services (1.2%, stable compared with October) and non-energy industrial goods (0.4%, stable compared with October).

In the US session Unemployment Claims data will be published. In the week ending November 25, the advance figure for seasonally adjusted initial claims was 238,000, a decrease of 2,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 239,000 to 240,000. The 4-week moving average was 242,250, an increase of 2,250 from the previous week's revised average. The previous week's average was revised up by 250 from 239,750 to 240,000. Claims taking procedures continue to be disrupted in the Virgin Islands.

 

There will be no major data releases from Eurozone tomorrow. In the US session ISM Manufacturing PMI figures will be released. Analysts predict decline to 58.4.

 

Figures to watch:

 

ISM Manufacturing PMI (Friday 16:00)

More in this category: « GBP/USD Daily Forecast – 01 December AUD/USD Daily Forecast – 04 December »

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