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EUR/USD Weekly Forecast – 24 April – 28 April

Friday, Apr 21 2017
EUR/USD Weekly Forecast – 24 April – 28 April

Events that marked the week:

From Eurozone, on Wednesday, CPI figures were published. Euro area annual inflation was 1.5% in March 2017, down from 2.0% in February. In March 2016 the rate was 0.0%. European Union annual inflation was 1.6% in March 2017, down from 2.0% in February. A year earlier the rate was 0.0%. Compared with February 2017, annual inflation fell in seventeen Member States, remained stable in six and rose in five.

Friday's session brought French and German PMI figures. France’s manufacturing PMI rose unexpectedly last month, preliminary data showed on Friday. In a report, Markit Economics said that French manufacturing PMI rose to a seasonally adjusted 55.1, from 53.3 in the preceding month. Analysts had expected French manufacturing PMI to fall to 53.0 last month. French service sector activity also rose unexpectedly last month, official data showed on Friday. In a report, Markit Economics said that French Services PMI rose to a seasonally adjusted 57.7, from 57.5 in the preceding month. Analysts had expected French Services PMI to fall to 57.1 last month.

 

Germany’s manufacturing PMI fell less-than-expected last month, preliminary data showed on Friday. In a report, Markit Economics said that German manufacturing PMI fell to a seasonally adjusted 58.2, from 58.3 in the preceding month. Analysts had expected German manufacturing PMI to fall to 58.0 last month. German service sector activity fell more-than-expected last month, official data showed on Friday. In a report, Markit Economics said that German Services PMI fell to 54.7, from 55.6 in the preceding month. Analysts had expected German Services PMI to fall to 55.5 last month.

 

This week markets will be looking at:

 

German Ifo Business Climate (Monday 10:00)

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

M3 Money Supply (Friday 10:00)

CPI Flash Estimate (Friday 11:00)

More in this category: « GBP/USD Weekly Forecast – 24 April – 28 April AUD/USD Weekly Forecast – 01 May – 05 May »

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