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EUR/USD Daily Forecast – 29 January

Friday, Jan 26 2018
EUR/USD Daily Forecast – 29 January
From Eurozone, on Friday, M3 Money Supply figures were released. The annual growth rate of the broad monetary aggregate M3 decreased to 4.6% in December 2017, from 4.9% in November. The annual growth rate of the narrower aggregate M1, which includes currency in circulation and overnight deposits, decreased to 8.6% in December, from 9.1% in November. The annual growth rate of adjusted loans to households stood at 2.8% in December,unchanged from the previous month.The annual growth rate of adjusted loans to non-financial corporations decreased to 2.9% in December, from 3.1% in November.
In the US session GDP and Durable Goods Orders figures were published. Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the fourth quarter of 2017, according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent. The Bureau emphasized that the fourth-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency.The "second" estimate for the fourth quarter, based on more complete data, will be released on February 28, 2018.
 
New orders for manufactured durable goods in December increased $7.0 billion or 2.9 percent to $249.4 billion, the U.S. Census Bureau announced today. This increase, up four of the last five months, followed a 1.7 percent November increase. Excluding transportation, new orders increased 0.6 percent. Excluding defense, new orders increased 2.2 percent. Transportation equipment, also up four of the last five months, led the increase, $6.0 billion or 7.4 percent to $87.2 billion.
 
There will be no major data releases both from Eurozone and USA on Monday so we can expect a bit steadier session. 
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