EUR/USD Daily Forecast

Sunday, Mar 11 2018

From Eurozone, on Friday, German Industrial Production figures were released. In January 2017, production in industry was down by 0.1% from the previous month on a price, seasonally and working day adjusted basis according to provisional data of the Federal Statistical Office (Destatis). In December 2017, the corrected figure shows a decrease of 0.5% (primary –0.6%) from November 2017. In January 2018, production in industry excluding energy and construction was up by 0.6%. Within industry, the production of capital goods increased by 1.4% and the production of consumer goods by 2.0%. The production of intermediate goods showed a decrease by 1.2%. Energy production was down by 3.3% in January 2018 and the production in construction decreased by 2.2%.

US session was marked by Non-Farm Employment report. Total nonfarm payroll employment increased by 313,000 in February, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported.Employment rose in construction, retail trade, professional and business services, manufacturing, financial activities, and mining. In February, average hourly earnings for all employees on private nonfarm payrolls rose by 4 cents to $26.75, following a 7-cent gain in January. Over the year, average hourly earnings have increased by 68 cents, or 2.6 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 6 cents to $22.40 in February.

There will be no major data releases both from Eurozone and USA on Monday so we can expect a bit steadier session.

EUR/USD Daily Forecast - 12 March

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