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EUR/USD Weekly Forecast – 18 July – 22 July

Friday, Jul 15 2016

Events that marked the week:

Wednesday's session brought Eurozone Industrial Production data. In May 2016 compared with April 2016, seasonally adjusted industrial production fell by 1.2% in the euro area (EA19) and by 1.1% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In April 2016 industrial production rose by 1.4% in the euro area and by 1.5% in the EU28.In May 2016 compared with May 2015, industrial production increased by 0.5% in the euro area and by 1.1% in the EU28.

From Eurozone, on Friday, only Final CPI data was published. Euro area annual inflation was 0.1% in June 2016, up from -0.1% in May. In June 2015 the rate was 0.2%. European Union annual inflation was 0.0% in June 2016, up from -0.1% in May. A year earlier the rate was 0.1%. The largest upward impacts to euro area annual inflation came from restaurants & cafés (+0.11 percentage points), rents and tobacco (both +0.06 pp), while fuels for transport (-0.41 pp), heating oil (-0.16 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)

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)

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

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