Browsing: Daily Look

The final day of the week is all about the major pair EUR/USD – lots of figures will be pouring out of these two regions and will determine the direction of pair towards the close of the week. Let’s see what’s up for today.

European figures

Europe’s GDP number will take the attention in the morning. Germany’s Prelim GDP is the first and most important release. After a rise of 0.7% last quarter, the economy is expected to grow by only 0.2% this time. A small miss – and there’s no growth. This figure will sure shake the Euro.

Later, Italian and French will be released and are expected to show more growth. This will be followed by the Flash GDP for the whole continent, which is predicted to show a rise of 0.4% – like the previous quarter.

There’s more in Europe – French Prelim Non-Farm Payrolls are predicted to show another quarter of job losses – a squeeze of 0.2% is expected to follow last quarter’s 0.6% dive. Finally, Industrial Production is predicted to rise by 0.3%, less than last quarter’s 1% rise.

EUR/USD is quite shaky. For some technical levels of this pair, check out Casey’s Stubbs’ latest analysis. Also note the state of EUR/GBP – that has seen strong moves lately.

American figures – some delayed from yesterday

Moving to the US, the schedule is busy there as well: Retail Sales are predicted to rise by 0.4%, after dropping by 0.3% last time. Core Retail Sales are predicted to rise in the same scale, following a 0.2% drop last time. The dollar will shake then, and will later receive another major figure:

The initial release of the Consumer Sentiment by the University of Michigan is predicted to edge up from 74.4 to 74.8 – this directly affects consumer spending – retail sales.

Also in the US: Business Inventories are predicted to continue rising modestly. Also the Federal Budget Balance might be finally released.

That’s it for today. Happy forex trading!

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