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EUR/USD Weekly Forecast – 08 January – 12 January

Saturday, Jan 06 2018
EUR/USD Weekly Forecast – 08 January – 12 January

Events that marked the week:

Tuesday's session brought Spanish Manufacturing PMI figures.  December data pointed to another strong performance by the Spanish manufacturing sector at the end of 2017. Production rose sharply on the back of a solid increase in new orders. In order to support output growth, firms continued to raise employment and purchasing activity at elevated rates. The PMI posted 55.8 in December, down slightly from the near 11-year high of 56.1 in November but still signalling a marked monthly improvement in the health of the sector. Business conditions have now strengthened in each of the past 49 months.

Friday's session brought Eurozone inflation data. Euro area annual inflation is expected to be 1.4% in December 2017, down from 1.5% in November 2017, according to a flash estimate from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in December (3.0%, compared with 4.7% in November), followed by food, alcohol & tobacco (2.1%, compared with 2.2% in November), services (1.2%, stable compared with November) and non-energy industrial goods (0.5%, compared with 0.4% in November).

 

This week markets will be looking at:

 

Retail Sales (Monday 11:00)

German Industrial Production (Tuesday 8:00)

Industrial Production (Thursday 11:00)

More in this category: « GBP/USD Weekly Forecast – 08 January – 12 January GBP/USD Weekly Forecast – 29 January – 02 February »

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