EUR/USD Weekly Forecast – 21 December – 25 December

Events that marked the week:

On Tuesday from Eurozone, ZEW Economic Sentiment data for Eurozone and Germany was released.The ZEW Indicator of Economic Sentiment for Germany has increased for the second consecutive time in December 2015. Gaining 5.7 points compared to the previous month, the index now stands at 16.1 points (long-term average: 24.7 points). Smaller increase to 15.2 was expected.Financial market experts’ sentiment concerning the economic development of the Eurozone has improved. ZEW’s Indicator of Economic Sentiment for the Eurozone has increased by 5.6 points to a reading of 33.9 points. Gaining 0.4 points in December 2015, the indicator for the current situation in the euro area has climbed to a value of minus 9.6 points. Read more...

Eurozone Current Account recorded a surplus of €20.4 billion

EUR/USD Daily Forecast – 18 December

Thursday was marked by German Business Sentiment data from Eurozone. Strong sentiment in the German economy weakened slightly this month. The Ifo Business Climate Index for German industry and trade fell to 108.7 points in December from 109.0 points in November. No change was expected. Assessments of the current business situation declined. Optimism about future business developments, by contrast, remained unchanged. The index values for the business climate, situation and expectations are around three points above the respective levels seen in December 2014. 

EUR/USD Daily Forecast – 18 December

Euro was pushed lower in the course of the yesterday's session testing 1.08 handle as a support. This was mainly result of markets reaction on yesterday's Fed decision to rise interest rates and despite dovish following statements markets had to price in this rate hike.