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EUR/USD Weekly Forecast – 25 September – 29 September

Friday, Sep 22 2017
EUR/USD Weekly Forecast – 25 September – 29 September

Events that marked the week:

Tuesday's session was marked by German and Eurozone Economic Sentiment figures. The ZEW Indicator of Economic Sentiment for Germany improved in September 2017. Climbing 7.0 points compared to the previous month, the indicator now stands at 17.0 points. The indicator, however, still remains below the long-term average of 23.8 points.“ The financial market experts’ assessment of the economic development of the Eurozone has also improved, with the respective indicator increasing by 2.4 points to a reading of 31.7 points.

Friday's session was marked by French and German PMI figures. Flash France Services Activity Index rises to 57.1 in September (54.9 in August), 4-month high, while Flash France Manufacturing PMI increases to 56.0 (55.8 in August) 77-month high. Having moderated in each of the previous three months, the rate of growth in service sectoractivity accelerated in September and was only marginally weaker than May’s near six-year peak. Further positive news was evident at goodsproducers, with manufacturing production rising to the greatest extent since April 2011.

 

Germany’s private sector economy ended the third quarter strongly, with business activity growth accelerating to the fastest in almost six-and-a-half years, according to flash PMI® survey data from IHS Markit. Improved performances were seen across both manufacturing and services in September, though it was the former that continued to show the much faster rate of expansion. Flash Germany Services PMI Activity Index came at 55.6 (53.5 in August), a 6-month high, while  Flash Germany Manufacturing PMI rose to 60.6 (59.3 in August), a 77-month high.

 

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 9:00)

CPI (Friday 11:00)

More in this category: « GBP/USD Weekly Forecast – 25 September – 29 September AUD/USD Weekly Forecast – 02 October – 06 October »

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