EUR/USD Daily Forecast – 28 December

It was a Christmas Day on Friday, there were no data releases and markets were closed. The EUR/USD was virtually unchanged since the European Central Bank rattled global foreign exchange markets on December 3 with an unexpected decision to approve only limited easing measures with its comprehensive asset-purchasing program. Following the shocking announcement by ECB president Mario Draghi, the euro surged more than 3% against the dollar on the session, one of its strongest one-day moves of the year.

EUR/USD Weekly Forecast – 28 December – 01 January

Events that marked the week:

From Eurozone, on Monday, German PPI figures were released. In November 2015 the index of producer prices for industrial products fell by 2.5% compared with the corresponding month of the preceding year. In October 2015 the annual rate of change all over had been –2.3%. Compared with the preceding month the overall index fell by 0.2% in November 2015 (–0.4% in October 2015 and –0.4% in September 2015). This was in line with market forecasts.

Euro managed to stay above 1.09 handle entering Christmas holidays

EUR/USD Daily Forecast – 25 December

There were no data releases from Eurozone yesterday and with holidays ahead there is a bit of lack of volatility, with markets keeping track on economic developments in Eurozone. Support in Finland for keeping the euro currency has fallen to 54% amid persistent economic problems, an opinion poll shows. This comes as parliament prepares for a debate next year on whether to hold referendum on euro membership. Despite recovery elsewhere in the Eurozone, Finland has suffered three years of economic contraction and some Finns say its prospects would improve if it returned to the markka currency. Read more...