EUR/USD Daily Forecast – 30 November

Euro was pushed lower in the course of the session on Friday, but once again found support around recent lows at 1.0570 level, and by the end of the day managed to rebound slightly in order to finish the session around 1.06 handle. On Monday, we expect that traders will still be cautious ahead of very volatile week. Read more...

EUR/USD Weekly Forecast – 30 November - 04 December

It was a steadier week for euro, as there were no major data release so pair was traded between 1.0670 level as high and 1.0570 level as week's lows. By the end of the week there was also lack of volatility as US banks were being closed in observance of Thanksgiving holiday. Next week should bring a lot of volatility with focus on US NFP figures and in particular ECB Meeting. Recent comments from ECB officials indicate that we could be seeing further stimulus measures which would bring further decline to euro.

EUR/USD Daily Forecast – 30 November

From Eurozone, on Friday, Spanish CPI and German Consumer Climate figures were released. The annual rate for the overall Spanish Consumer Price Index (CPI) in October was ‒0.3%, four tenths higher than that registered in the previous month. Analysts were predicting annual rate of -0.5%. The annual change of core inflation increases one tenth, reaching 0.9%. The monthly change of the overall index is 0.6%.The groups that most contributed to this variation were transport, whose rate increased seven tenths up to –5.7% and communications, whose rate stood at 0.5%, more than one point higher that that registered in the previous month.

EUR/USD Weekly Forecast – 30 November - 04 December

Events that marked the week:

Monday's session brought French, German and Eurozone PMI data. French private sector output growth weakened slightly in November, with the Paris attacks reported to have hit activity among some service providers. Flash France Services Activity Index fell to to 51.3 from 52.7 in October what is a 3-month low. On the other hand Flash France Manufacturing PMI increased to 50.8 from 50.6 in October what is a 19-month high. However, the trend in new business firmed a little, with growth quickening to a five-month high, while backlogs of work rose again.