Eurozone Current Account surplus at €25.4 billion

EUR/USD Daily Forecast - 21 March

From Eurozone, on Friday, only German PPI figures were published. In February 2016 the index of producer prices for industrial products fell by 3.0% compared with the corresponding month of the preceding year. In January 2016 the annual rate of change all over had been –2.4%. In February 2016 energy prices decreased by 9.4% compared with February 2015, prices of intermediate goods by 2.2%. Compared with the preceding month the overall index fell by 0.5% in February 2016 (–0.7% in January 2016 and –0.5% in December 2015). Analysts were anticipating decrease by 0.2%.

EUR/USD Weekly Forecast - 21 March – 25 March

Euro was pushed higher in the course of the last week mostly due to more dovish Fed stanzas then it was expected. Pair even broke above 1.13 handle, but this area proved to be too resistive for the pair at the moment, and by the end of the week pair pulled back to below 1.13 handle. Next week, should be less volatile, so we believe that we can expect some amount of support around 1.12 handle initially and 1.11 handle in extension. On the other hand, resistive candles above 1.1350 handle would offer short-term selling opportunity. Read more...

EUR/USD Weekly Forecast - 21 March – 25 March

Events that marked the week:

From Eurozone, on Monday, Industrial Production figures were released. In January 2016 compared with December 2015, seasonally adjusted industrial production rose by 2.1% in the euro area (EA19), beating forecasts on 1.7% incline, and by 1.7% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In December 2015 industrial production fell by 0.5% in the euro area and by 0.6 in the EU28. In January 2016 compared with January 2015, industrial production increased by 2.8% in the euro area and by 2.5% in the EU28. Read more...