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EUR/USD Weekly Forecast – 18 January – 22 January

Friday, Jan 15 2016

Events that marked the week:

From Eurozone, on Wednesday, Industrial Production data was released. In November 2015 compared with October 2015, seasonally adjusted industrial production fell by 0.7% in the euro area (EA19) and by 0.6% in the EU28, according to estimates from Eurostat. Analysts were forecasting 0.2% decrease. The decrease of 0.7% in industrial production in the euro area in November 2015, compared with October 2015, is due to production of energy falling by 4.3%, capital goods by 1.9% and durable consumer goods by 1.0%, while production of non-durable consumer goods rose by 0.1% and intermediate goods by 0.7%. 

From Eurozone, on Friday, only Trade Balance data was published. The first estimate for euro area (EA19) exports of goods to the rest of the world in November 2015 was €173.5 billion, an increase of 6% compared with November 2014 (€163.6 bn). Imports from the rest of the world stood at €149.9 bn, a rise of 5% compared with November 2014 (€143.5 bn).  As a result, the euro area recorded a €23.6 bn surplus in trade in goods with the rest of the world in November 2015, compared with +€20.1 bn in November 2014. analysts were anticipating surplus of €21.1bn.  Intra-euro area trade rose to €145.7 bn in November 2015, up by 5% compared with November 2014.

 

Next week markets will be looking at:

 

German ZEW Economic Sentiment/ZEW Economic Sentiment (Tuesday 11:00)

Minimum Bid Rate/ECB Press Conference (Thursday 14:30)

French Flash Manufacturing PMI/French Flash Services PMI (Friday 9:00)

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

Flash Manufacturing PMI/Flash Services PMI (Friday 10:00)

More in this category: « GBP/USD Weekly Forecast – 18 January – 22 January AUD/USD Weekly Forecast – 25 January – 29 January »

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