EUR/USD Weekly Forecast – 18 January – 22 January

Euro was initially pushed lower in the course of the last week, but found area around 1.08 handle to be supportive enough in order to rebound and even come near 1.10 handle by the week's end. However, this area offers significant amount of resistance at the moment. It is likely that pair will go back and forth initially next week with traders being cautious ahead of ECB Press Conference later in the week. Read more...

EUR/USD Daily Forecast – 18 January

From Eurozone, on Friday, only Trade Balance data was published. The first estimate for euro area (EA19) exports of goods to the rest of the world in November 2015 was €173.5 billion, an increase of 6% compared with November 2014 (€163.6 bn). Imports from the rest of the world stood at €149.9 bn, a rise of 5% compared with November 2014 (€143.5 bn).  As a result, the euro area recorded a €23.6 bn surplus in trade in goods with the rest of the world in November 2015, compared with +€20.1 bn in November 2014. analysts were anticipating surplus of €21.1bn.  Intra-euro area trade rose to €145.7 bn in November 2015, up by 5% compared with November 2014.

EUR/USD Weekly Forecast – 18 January – 22 January

Events that marked the week:

From Eurozone, on Wednesday, Industrial Production data was released. In November 2015 compared with October 2015, seasonally adjusted industrial production fell by 0.7% in the euro area (EA19) and by 0.6% in the EU28, according to estimates from Eurostat. Analysts were forecasting 0.2% decrease. The decrease of 0.7% in industrial production in the euro area in November 2015, compared with October 2015, is due to production of energy falling by 4.3%, capital goods by 1.9% and durable consumer goods by 1.0%, while production of non-durable consumer goods rose by 0.1% and intermediate goods by 0.7%.  Read more...

Euro area trade surplus rose to 21.1 billion euros

The first estimate for euro area (EA19) exports of goods to the rest of the world in November 2015 was €173.5 billion, an increase of 6% compared with November 2014 (€163.6 bn). Imports from the rest of the world stood at €149.9 bn, a rise of 5% compared with November 2014 (€143.5 bn).