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EUR/USD Weekly Forecast – 20 June – 24 June

Friday, Jun 17 2016

Events that marked the week:

On Tuesday, from Eurozone, Industrial Production data was published. In April 2016 compared with March 2016, seasonally adjusted industrial production rose by 1.1% in the euro area (EA19) and by 1.3% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In March 2016 industrial production fell by 0.7% in the euro area and by 0.5% in the EU28.

Wednesday brought Trade Balance data. The first estimate for euro area (EA19) exports of goods to the rest of the world in April 2016 was €172.3 billion, a decrease of 1% compared with April 2015 (€173.9 bn). Imports from the rest of the world stood at €144.8 bn, a fall of 5% compared with April 2015 (€153.0 bn). Intra-euro area trade rose to €142.8 bn in April 2016, up by 1% compared with April 2015. As a result, the euro area recorded a €27.5 bn surplus in trade in goods with the rest of the world in April 2016, compared with +€20.9 bn in April 2015.

 

Thursday was marked by Final CPI data. Euro area annual inflation was -0.1% in May 2016, up from -0.2% in April. In May 2015 the rate was 0.3%. European Union annual inflation was also -0.1% in May 2016, up from -0.2% in April. A year earlier the rate was 0.3%.The largest upward impacts to euro area annual inflation came from restaurants & cafés (+0.12 percentage points), rents and tobacco (both +0.07 pp), while fuels for transport (-0.53 pp), heating oil (-0.20 pp) and gas (-0.13 pp) had the biggest downward impacts.

 

This week markets will be looking at:

 

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

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

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

German Ifo Business Climate (Friday 10:00)

More in this category: « GBP/USD Weekly Forecast – 20 June – 24 June AUD/USD Weekly Forecast – 27 June – 01 July »

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