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EUR/USD Daily Forecast - 2 July

Friday, Jun 29 2018
EUR/USD Daily Forecast - 2 July

Focus of Friday’s session was on Eurozone CPI figures. Euro area annual inflation is expected to be 2.0% in June 2018, up from 1.9% in May 2018, according to a flash estimate from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in June (8.0%, compared with 6.1% in May), followed by food, alcohol & tobacco (2.8%, compared with 2.5% in May), services (1.3%, compared with 1.6% in May) and non-energy industrial goods (0.4%, compared with 0.3% in May).

In the US session Consumer Sentiment data was released. Consumer sentiment jumped at the beginning of June, moving opposite of expectations and heading back toward levels seen earlier this year. The University of Michigan's Friday report on consumer attitudes about the economy hit 99.3 in a preliminary June reading, higher than the 98.3 expected by a survey of Reuters economists. The index was more than a point above May's reading of 98 and rose to its highest level since hitting 101.4 in March.

There will be no major data releases from Eurozone on Monday. In the US session ISM Manufacturing PMI figures will be published. Decline to 58.2 is predicted.

Figures to watch:

Manufacturing PMI (Monday 9:30)

ISM Manufacturing PMI (Monday 15:00)

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