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EUR/USD Daily Forecast - 20 February

Tuesday, Feb 20 2018
EUR/USD Daily Forecast - 20 February

Yesterday, from Eurozone, Current Account figures were released. The current account of the euro area recorded a surplus of €29.9 billion in December 2017. This reflected surpluses for goods (€30.9 billion), services (€7.3 billion) and primary income (€3.7 billion), which were partly offset by a deficit for secondary income (€12.0 billion). According to the preliminary results for 2017 as a whole, the current account recorded a surplus of €391.4 billion (3.5% of euro area GDP), compared with one of €367.6 billion (3.4% of euro area GDP) in 2016.

This development was due to increases in the surpluses for services (from €39.0 billion to €80.9 billion) and primary income (from €95.3 billion to €112.8 billion). These were partly offset by a decrease in the surplus for goods (from €373.0 billion to €348.2 billion) and an increase in the deficit for secondary income (from €139.7 billion to €150.5 billion).

 

Tomorrow's session will bring German and Eurozone ZEW Economic Sentiment figures. Analysts predict decline to 16.0 and 28.4 respectively. There will be no major data releases in the US part of the session.  

 

Figures to watch:

 

ZEW Economic Sentiment (Tuesday 11:00)

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