EURUSD Fundamental analysis of the week
EURUSD ended the week just past a slight uphill, having started with a downward trend, which led to a new minimum of 3 months. No big volatility emerged from the consolidation phase, which may be considering data coming out next week.
For the EURUSD the following week will be full of appointments for both sides of the Atlantic. Not to mention the effects of the US tax reform, the eyes will be focused on American inflation, which is declining compared to the previous one.
European inflation could have fluctuated the EURUSD cross if the data were different from analysts’ forecasts.
Germany’s GDP may have a significant impact on the EURUSD, as the country led by Angela Merkel is the most influential of the Eurozone and the European Union.
Tuesday, November 14 will be a full day of important publications for the cross.
The first date to be missed is the outgrowth of the German GDP, which on a monthly basis the consensus provides for a repeat of the previous figure (+ 0.6%), but estimates an annual growth of 2.3%, against 0.8 % of the last survey.
On the same day, the ZEW will recognize the sentiment of the German economy. The forecast is 20 points, against 17.6 of the last survey.
Always at 11 we will know the Euro Pilot figure, which on a monthly basis analysts believe in a 0.6% increase, on an annual basis of 2.5%, confirming the good times of the eurozone economy.
The latest market mover of the day will be that of the US producer price index, which gives the consensus a + 2.4%, against the 2.6% increase in the previous figure; while on a monthly basis, the forecast is a 0.1% increase, compared to + 0.4% last year.
For Wednesday, November 15, we note US inflation, which should fall from + 2.2% to + 2.0% on an annual basis and from + 0.5% to + 0.1% on a monthly basis, according to analysts’ forecasts .
Another thing not to underestimate is always the dollar and is referring to retail sales on a monthly basis in the US. The consensus estimates an increase of 0.1%, well below the previous one, which was a good 1.6%.
Thursday, November 16, is the eurozone inflation rate, which should not be subject to annual changes (+ 1.4%) but should move from + 0.4% to + 0.1% on a monthly basis. market analysts.
Closes the week of market mover data on construction permits issued in the United States in October, where the consensus envisages more (1,240 million) than the previous one (1,225 million).