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EUR/USD Weekly Forecast - 19 February - 23 February

Friday, Feb 16 2018
EUR/USD Weekly Forecast - 19 February - 23 February

Events that marked the week:

Wednesday's session brought Eurozone GDP data. Seasonally adjusted GDP rose by 0.6% in both the euro area (EA19) and the EU28 during the fourth quarter of 2017, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. In the third quarter of 2017, GDP grew by 0.7% in both zones.  Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 2.7% in the euro area and by 2.6% in the EU28 in the fourth quarter of 2017, after +2.8% in both zones in the previous quarter.

From Eurozone, on Thursday, Trade Balance figures were released. The first estimate for euro area (EA19) exports of goods to the rest of the world in December 2017 was €180.7 billion, an increase of 1.0% compared with December 2016 (€179.0 bn). Imports from the rest of the world stood at €155.3 bn, a rise of 2.5% compared with December 2016 (€151.4 bn). As a result, the euro area recorded a €25.4 bn surplus in trade in goods with the rest of the world in December 2017, compared with +€27.6 bn in December 2016. Intra-euro area trade rose to €142.4 bn in December 2017, up by 2.8% compared with December 2016.

 

This week markets will be looking at:

 

German ZEW Economic Sentiment/ZEW Economic Sentiment (Tuesday 11:00)

French Flash Manufacturing PMI/French Flash Services PMI (Wednesday 9:00)

German Flash Manufacturing PMI/German Flash Services PMI (Wednesday 9:30)

German Ifo Business Climate (Thursday 9:00)

Final CPI (Friday 11:00)

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