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EUR/USD Daily Forecast – 21 December

Wednesday, Dec 20 2017
EUR/USD Daily Forecast – 21 December

Yesterday's session brought Eurozone Current Account figures. The current account of the euro area recorded a surplus of €30.8 billion in October 2017. This reflected surpluses for goods (€26.2 billion), primary income (€9.8 billion) and services (€7.3 billion), which were partly offset by a deficit for secondary income (€12.5 billion). The 12-month cumulated current account for the period ending in October 2017 recorded a surplus of €349.6 billion (3.2% of euro area GDP), compared with one of €363.4 billion (3.4% of euro area GDP) for the 12 months to October 2016.

In the US session Existing Home Sales data was published. Existing-home sales surged for the third straight month in November and reached their strongest pace in almost 11 years, according to the National Association of Realtors. All major regions except for the West saw a significant hike in sales activity last month. Total existing-home sales, jumped 5.6 percent to a seasonally adjusted annual rate of 5.81 million in November from an upwardly revised 5.50 million in October. After last month’s increase, sales are 3.8 percent higher than a year ago and are at their strongest pace since December 2006 (6.42 million).

 

There will be no major data releases from Eurozone tomorrow. In the US session Final GDP and Unemployment Claims figures will be published. Analysts predict 3.3% growth in GDP and increase to 232,000 in Unemployment Claims.

 

Figures to watch:

 

Unemployment Claims (Thursday 14:30)

Final GDP (Thursday 14:30)

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

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