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EUR/USD Weekly Forecast – 22 May – 26 May

Friday, May 19 2017
EUR/USD Weekly Forecast – 22 May – 26 May

Events that marked the week:

There were no data releases from Eurozone on Monday, but the focus was on Sunday's French presidential inauguration. First-time politician Emmanuel Macron was inaugurated Sunday as France’s president, facing the difficult task of transforming electoral success into political strength in a society beset by unemployment and divided by anger.  The solemn ceremony in the gilded halls of the Elysee Palace capped Macron’s rise from political obscurity just a year ago, when he was the economy minister starting a long-shot centrist bid against the parties that had run the nation for decades. Now the 39-year-old is France’s youngest leader since Napoleon.

Tuesday's session was marked by ZEW Economic Sentiment figures. The ZEW Indicator of Economic Sentiment for Germany continued to increase in May 2017. Compared to the previous month, it climbed by 1.1 points to a current reading of 20.6 points. The long-term average of 23.9 points has not quite been reached yet. The assessment of the current economic situation in Germany also improved once again in May. The indicator reflecting the financial market experts' expectations regarding the economic development in the eurozone increased significantly by 8.8 points in May, bringing the expectation indicator up to a current level of 35.1 points.

 

This week markets will be looking at:

 

German Ifo Business Climate (Tuesday 10:00)

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

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

More in this category: « GBP/USD Weekly Forecast – 22 May – 26 May AUD/USD Weekly Forecast – 29 May – 02 June »

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