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EUR/USD Daily Forecast – 08 December

Thursday, Dec 07 2017
EUR/USD Daily Forecast – 08 December

From Eurozone, German Industrial Production figures were published. In October 2017, production in industry was down by 1.4% from the previous month on a price, seasonally and working day adjusted basis according to provisional data of the Federal Statistical Office (Destatis). In September 2017, the corrected figure shows a decrease of 0.9% (primary –1.6%) from August 2017. In October 2017, production in industry excluding energy and construction was down by 2.0%. Within industry, the production of capital goods decreased by 2.7% and the production of consumer goods by 2.6%.

In the US session Unemployment Claims data was released. In the week ending December 2, the advance figure for seasonally adjusted initial claims was 236,000, a decrease of 2,000 from the previous week's unrevised level of 238,000. The 4 week moving average was 241,500, a decrease of 750 from the previous week's unrevised average of 242,250. Claims taking procedures continue to be disrupted in the Virgin Islands. Claims taking process in Puerto Rico has still not returned to normal.

 

There will be no major data releases from Eurozone tomorrow. In the US session NFP report will be published. Analysts predict an increase of 198,000 in number of employed, while Unemployment Rate should remain unchanged at 4.1%.

 

Figures to watch:

 

Non-Farm Employment Change/Unemployment Rate (Friday 14:30)

More in this category: « GBP/USD Daily Forecast – 08 December AUD/USD Daily Forecast – 12 December »

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