wrapper

EUR/USD Weekly Forecast - 4 June - 8 June

Saturday, Jun 02 2018
EUR/USD Weekly Forecast - 4 June - 8 June

EUR/USD continued suffering from Italian politics once again after a short respite.

Italy’s President rejected the Euroskeptic candidate for Finance Minister, Paolo Savona triggering widespread anger also against the EU. Fears of early elections that would be a de-facto vote on euro-zone membership triggered a quick yet powerful crisis. Italian bond yields soared, the odds of an “Italexit” rose, stocks crashed, and EUR/USD fell to the lowest levels in 10 months. Eventually, the two coalition parties and the President found a compromise on the composition of the government. This provided calm. A political crisis in Spain had little impact as the common currency as Spain is staunchly pro-European. Upbeat German retail sales and a much-needed rise in inflation (1.9% on the headline and 1.1% on the core) also supported the common currency. In the US, data was mixed.

Major events in the coming week:

  1. Spanish Unemployment Change: Monday, 7:00. A drop of 105.7K in unemployment expected.
  2. Sentix Investor Confidence: Monday, 8:30.
  3. PPI: Monday, 9:00. Inflation in the pipeline came out at 0.1% in March. The PPI lags the CPI but serves as a projection for the future. A rise of 0.2% is forecast.
  4. Services PMI: Tuesday: 7:15 Spain, 7:45 Italy, 7:50 France, 7:55 Germany, 8:00 euro-zone. A confirmation is expected for respective initial reads announced earlier.
  5. Retail Sales: Tuesday, 9:00.
  6. Mario Draghi talks Tuesday, 13:00. The President of the ECB will speak at the ECB’s 20th-anniversary event with his predecessor Jean-Claude Trichet.
  7. Jens Weidmann talks Tuesday, 17:30. The President of the German Bundesbank will be in Brussels and his speech is titled “Reforms for a Stable Monetary Union”.
  8. Retail PMI: Wednesday, 8:10. A small improvement from earlier 48.6 may be seen in May.
  9. German Factory Orders: Thursday, 6:00.
  10. French Trade Balance: Thursday, 6:45. The trade balance deficit of France reached 5.3 billion euros, a deeper than predicted. A similar figure is likely for April: a deficit of 5.1 billion.
  11. Revised GDP: Thursday, 9:00. This publication will likely confirm the initial estimates data.
  12. German Industrial Production: Friday, 6:00.
  13. German Trade Balance: Friday, 6:00. A surplus of 20.3 billion is expected.
  14. French Industrial Production: Friday, 6:45. Expected to see a rise of 0.4% in industrial output.

(All times are GMT)

More in this category: « GBP/USD Weekly Forecast - 4 June - 8 June AUD/USD Weekly Forecast - 4 June - 8 June »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.