wrapper

EUR/USD Weekly Forecast - 25 April – 29 April

Friday, Apr 22 2016

Events that marked the week:

From Eurozone, on Tuesday, ZEW Economic Sentiment data was released. The ZEW Indicator of Economic Sentiment for Germany has increased for the second time in a row in April 2016. The index has gained 6.9 points compared to the previous month, now totaling 11.2 points. Financial market experts‘ expectations in regard to developments in the Eurozone are improving. The Indicator of Economic Sentiment has recovered by 10.9 points, reaching 21.5 points.

Focus of Thursday's session was on ECB interest rate decision and the following Press Conference. At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively. Regarding non-standard monetary policy measures, we have started to expand our monthly purchases under the asset purchase programme to €80 billion.

 

At the following Press Conference ECB President Mario Draghi said that ECB will continue its policy of low interest rates for extended period of time; well past horizon of asset purchases. Following comprehensive package of decisions taken in early March, broad financing conditions in the euro area have improved, Draghi noted. Domestic demand continues to be supported by monetary policy measures, according to Draghi.

 

Friday brought German and French Manufacturing PMI figures. Germany’s manufacturing PMI rose more-than-expected last month, preliminary data showed on Friday. In a report, Markit Economics said that German manufacturing PMI rose to a seasonally adjusted 51.9, from 50.7 in the preceding month. Analysts had expected German manufacturing PMI to rise to 51.0 last month. German service sector activity fell unexpectedly last month, official data showed on Friday. In a report, Markit Economics said that German Services PMI fell to 54.6, from 55.1 in the preceding month. Analysts had expected German Services PMI to rise to 55.2 last month.

 

Separate report, from Markit Economics said that French manufacturing PMI fell to a seasonally adjusted 48.3, from 49.6 in the preceding month. Analysts had expected French manufacturing PMI to rise to 49.8 last month. In a report, Markit Economics said that French Services PMI rose to a seasonally adjusted 50.8, from 49.9 in the preceding month. Analysts had expected French Services PMI to rise to 50.2 last month.

 

This week markets will be looking at:

 

German Ifo Business Climate (Monday 10:00)

M3 Money Supply (Wednesday 10:00)

German Prelim CPI (Thursday)

Spanish Flash CPI (Thursday 09:00)

Spanish Unemployment Rate (Thursday 09:00)

German Unemployment Change (Thursday 09:55)

Spanish Flash GDP (Friday 9:00)

CPI (Friday 11:00)

Last modified on Friday, 22 April 2016
More in this category: « AUD/USD Weekly Forecast - 25 April – 29 April GBP/USD Weekly Forecast - 25 April – 29 April »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.