EUR/USD Fundamental Outlook @ ForexAbode Analysis

 
on November 12 2012 7:44 AM

EUR/USD Fundamental Outlook @ ForexAbode Analysis

Euro-US Dollar (EUR/USD)

The fundamental EUR/USD outlook is updated weekly and is one of the base of the weekly analysis/forecast for EUR/USD. This is mainly derived from the recent major economic releases and news. The EUR/USD economic strength meter at the bottom shows the relative strengths or weakness of the currencies depending on the recent economic releases/news.

EUR/USD -Recent Economic Releases

EMU (EUR): European commission cut down the GDP growth forecast to 0.1% from previous 1% for 2013. The growth forecast for Germany was also cut down to 0.8% from the previous estimates of 1.7%.EMU (EUR): Sentix Investor Confidence: -18.8, positive as compared to the forecasts (-20.0) as well as the previous -22.2.EMU (EUR): Markit PMI: Markit Services PMI 46.0 and slightly negative as compared to the forecasts (46.2) as well as the previous 46.1. Same with the Composite PMI which was 45.7 against the consensus of 45.8 and previous 46.1.EMU (EUR): German Markit Services PMI: 48.4, negative as compared to the forecasts (49.3) as well as the previous 49.7.EMU (EUR): Producer Price Index: Year on year change 2.7% was same as the previous release but slightly better than the consensus of 2.6%. The month on month change in the PPI was same as the consensus i.e. 0.2% and quite less than the previous 0.9%.EMU (EUR): German Factory Orders: Year on year change -4.7%, negative as compared to the forecasts (-1.5%) as well as the previous -4.6%. Same was with the month on month change.EMU (EUR): Retail Sales: Year on year change -0.8% and slightly positive as compared to the forecasts (-1.0%) as well as the previous -0.9%. The month on month change -0.2% was less than the consensus of -0.1% and previous 0.2%.EMU (EUR): German Industrial Production: Year on year change was -1.2% against the previous -1.3%. Month on month change was -1.8% and negative as compared to the forecasts (-0.5%) as well as the previous -0.4%.EMU (EUR): German Trade Balance (September): EUR 17.0B was better than the consensus of EUR 16.8B but less than the previous 18.3B Euro.EMU (EUR): Interest Rate was kept same at 0.75%.EMU (EUR): German Consumer price Index: Year on year change remained same as the previous release as well the consensus at 2%. Same with the month on month change which remained unchanged i.e. 0.0%. Same was the case with Year on year and month on month change in Harmonized index of consumer priceswhich were respectively 2.1% and 0.0%.U.S. (USD): ISM Non-Manufacturing PMI: 54.2, negative as compared to the forecasts (54.5) as well as the previous 55.1.U.S. (USD): U.S. Precedential Elections: Though economic sector preferred Mitt Romney but the conclusion of the elections took out the recent uncertainties.U.S. (USD): Consumer Credit Change: USD 11.36B, better than the consensus of USD 10.05B but quite less than the previous 18.39B U.S. Dollar.U.S. (USD): Jobless Claims: Initial jobless claims 355K, positive as compared to the forecasts (370K) as well as the previous 363K. Same with the continuing jobless claims which were 3.127M against the consensus of 3.253 million and previous release of 3.262 million.U.S. (USD): Trade Balance (September): USD -41.55 billion, positive as compared to the forecasts (USD -45.00B) as well as the previous -43.79 billion U.S. Dollars.U.S. (USD): Reuters/Michigan Consumer Sentiment Index (prelim): 84.9, positive as compared to the forecasts (83.0) as well as the previous 82.6.

 

EUR/USD Outlook : Economic Releases (Strength Meter)

Go back to EUR/USD Weekly Outlook.Go to EUR/USD Weekly Technical Outlook.Go to EUR/USD Daily Analysis.Visit Forex Fundamental Analysis page.

 

EUR/USD Interest Rate Comparision(For Carry Trade)Euro 0.75%US Dollar  0.25%Euro-Dollar interest rate comparision 0.50%

 

Copyright ForexAbode All rights reserved.

Share this article

More News from IBT MEDIA