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EUR/USD Daily Forecast – 24 January

Tuesday, Jan 23 2018
EUR/USD Daily Forecast – 24 January

Focus of the yesterday's session was on ZEW Economic Sentiment figures. The ZEW Indicator of Economic Sentiment for Germany climbed 3.0 points in January 2018, currently standing at 20.4 points. The indicator thus still remains slightly below the long-term average of 23.7 points. The assessment of the current economic situation in Germany increased by 5.9 points, with the corresponding indicator currently standing at 95.2 points.  “The latest survey results reveal an optimistic outlook for the German economy in the first six months of 2018. With 95.2 out of 100 points, this is the most positive assessment of the current economic situation since the introduction of the survey in December 1991.” comments ZEW President Professor Achim Wambach.

The financial market experts’ sentiment concerning the economic development of the Eurozone increased by 2.8 points, currently standing at a level of 31.8 points. The indicator for the current economic situation in the Eurozone also continued to improve in January, leaving the index at a level of 56.4 points, 5.7 points higher than in December. The economic expectations for the Eurozone are thus fairly positive. This positive economic development is also reflected in the fact that inflation expectations are rising, with the corresponding indicator for the Eurozone climbing 11.3 points to a level of 57.5 points.

 

Focus of tomorrow's session will be on French and German Manufacturing and Services PMI figures. Analysts predict no change. There will be no major data releases in the US part of the session.

 

Figures to watch:

 

France Flash Manufacturing PMI/France Flash Services PMI (Wednesday 9:00)

German Flash Manufacturing PMI/German Flash Services PMI (Wednesday 9:30)

 

More in this category: « GBP/USD Daily Forecast – 24 January AUD/USD Daily Forecast – 25 January »

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