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EUR/USD Daily Forecast - 29 June

Thursday, Jun 28 2018
EUR/USD Daily Forecast - 29 June

Yesterday, from Eruozone German CPI figures were released. German inflation rose in line with expectations last month, according to a report released on Thursday. The consumer price index rose 2.1% last month, compared with the same month a year earlier, according to data from the Federal Statistics Office. The reading was slightly weaker than May's 2.2% increase but the minor dip was unlikely to alter the European Central Bank's outlook on monetary policy. Prices rose 0.1% from a month earlier.

In the US session GDP data was published. Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the first quarter of 2018 according to the "third" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.9 percent. In the second estimate, the increase in real GDP was 2.2 percent. With this third estimate for the first quarter, the general picture of economic growth remains the same; private inventory investment and personal consumption expenditures (PCE) were revised down.

Tomorrow’s session will be marked by Eurozone CPI figures. Analysts predict 2.0% increase.

Figures to watch:

Prelim CPI Estimate (Friday 10:00)

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