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EUR/USD Weekly Forecast - 15 December - 19 December

Friday, Dec 12 2014

Events that marked the week:

 

Wednesday brought only French Industrial Production figures. According to the latest INSEE report French Industrial Production fell be 0.8% in November, missing heavily expectations on 0.2% increase. During the last three months output rose in the manufacturing sector (+0.5%), as well as in industry as a whole by 0.3%.

 

From Eurozone, on Thursday, ECB Targeted LTRO figures were released. While markets were expecting a figure of around 148.2 billion euros, ECB decided to put is targeted LTRO at €129.8 billion, following September amount of €82.6 billion, when the temporary programme began.Loans will be made at the Eurozone refinancing interest rate plus 10 basis points, maturing in September 2018. The value of the loans will be determined by demand from commercial banks.

 

On Friday, Eurozone Industrial Production data was released. In October 2014 compared with September 2014, seasonally adjusted industrial production rose by 0.1% in euro area, missing market expectations on 0.2% increase. This followed 0.5% increase in September. In October 2014 compared with October 20134, industrial production increased by 0.7%

 

This week markets will be looking at:

 

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

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

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

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

German Ifo Business Climate (Thursday 10:00)

GfK German Consumer Climate (Friday 8:00)

More in this category: « GBP/USD Weekly Forecast - 15 December - 19 December AUD/USD Weekly Forecast - 22 December - 26 December »

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