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EUR/USD Daily Forecast – 13 December

Tuesday, Dec 12 2017
EUR/USD Daily Forecast – 13 December

Yesterday's session brought ZEW Economic Sentiment figures for Germany and Eurozone. The ZEW Indicator of Economic Sentiment for Germany records a decrease of 1.3 points in December 2017 and now stands at 17.4 points. The indicator thus still remains below the long-term average of 23.7 points. The assessment of the current economic situation in Germany increased by 0.5 points, with the corresponding indicator currently standing at 89.3 points. The financial market experts’ sentiment concerning the economic development of the Eurozone decreased by 1.9 points, with the corresponding indicator currently standing at 29.0 points. The indicator for the current economic situation in the Eurozone continued to improve in December, climbing by 2.9 points to a level of 50.7 points compared to the previous month. The economic expectations for the Eurozone thus continue to be positive.

In the US session PPI data was released. The Producer Price Index for final demand increased 0.4 percent in November, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices also moved up 0.4 percent in both October and September. On an unadjusted basis, the final demand index rose 3.1 percent for the 12 months ended in November, the largest advance since a 3.1-percent increase for the 12 months ended January 2012.In November, three-fourths of the rise in the final demand index is attributable to a 1.0-percent increase in prices for final demand goods. The index for final demand services climbed 0.2 percent.

 

There will be no major data releases from Eurozone tomorrow. In the US session CPI figures will be published. Analysts predict 0.4% increase. However, the focus of the session will be on FOMC interest rate decision and the following press conference, where interest rate hike is anticipated.

 

Figures to watch:

 

CPI (Wednesday 14:30)

Federal Funds Rate/FOMC Economic Projections/FOMC Press Conference (Wednesday 20:00)

More in this category: « GBP/USD Daily Forecast – 13 December AUD/USD Daily Forecast – 14 December »

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