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EUR/USD Daily Forecast – 17 January

Tuesday, Jan 16 2018
EUR/USD Daily Forecast – 17 January

From Eurozone, yesterday, German CPI figures were released. Consumer prices in Germany rose by 1.8% on an annual average in 2017 compared with 2016. The increase was above the relevant levels of the past four years. Between 2014 and 2016, the year-on-year-rates of price increase were even below one percent each. The Federal Statistical Office (Destatis) also reports that the inflation rates as measured by the consumer price index ranged between +1.5% and +2.2% in the individual months of 2017. In December 2017, the inflation rate stood at +1.7%.

In the US session Empire State Manufacturing Index data was published. Business activity continued to grow at a solid clip in New York State, according to firms responding to the January 2018 Empire State Manufacturing Survey. The headline general business conditions index, at 17.7, was little changed from last month’s level. The new orders index and the shipments index both showed ongoing growth, although at a slower pace than in December.

 

There will be no major data release from Eurozone tomorrow. In the US session Industrial Production figures will be published. Analysts predict increase by 0.4%.

 

Figures to watch:

 

Industrial Production (Wednesday 15:15)

More in this category: « GBP/USD Daily Forecast – 17 January AUD/USD Daily Forecast – 18 January »

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