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EUR/USD Daily Forecast - 27 June

Tuesday, Jun 26 2018
EUR/USD Daily Forecast - 27 June

There were no data releases from Eurozone yesterday. Fresh comments from ECB official Peter Praet suggest the central bank remains in no rush to normalize monetary policy as the board member pledges to retain the zero-interest rate policy (ZIRP) ‘as long as necessary to ensure that inflation developments remain in line with current expectations of a sustained adjustment path.’ It seems as though the ECB will keep the door open to further support the monetary union as the Governing Council struggles to achieve its one and only mandate for price stability, and the Euro remains at risk of facing additional headwinds over the coming months as the quantitative easing (QE) program is now set to expire in December.

In the US session Consumer Confidence figures were released. The Conference Board Consumer Confidence Index decreased in June, following an increase in May. The Index now stands at 126.4 (1985=100), down from 128.8 in May. The Present Situation Index was relatively flat, 161.1 versus 161.2 last month, while the Expectations Index declined from 107.2 last month to 103.2 this month. "Consumer confidence declined in June after improving in May," said Lynn Franco, Director of Economic Indicators at The Conference Board.

There will be no major data releases from Eurozone tomorrow. In the US session Durable Goods Orders figures will be published. Analysts predict decline by 0.9%.

Figures to watch:

Durable Goods Orders (Wednesday 13:30)

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