Forex EUR USD Forecast

Forex EUR USD Forecast - Daily published professional analytical forecasts for the main currency pair Market Forex: the EUR USD!

FOREX EUR USD: Left the Range on Weekly – New Target: 1.1620. 15.10.2015

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Yesterday’s Trading:
On Wednesday the USD was down against the key pairs after weak retail sales data and manufacturing inflation figures for the US came out. The data was worse than expected. Previous retail sales figures were reassessed downwards. The key index for industrial prices fell to a minimum since January and the PPI was negative. The data has signalled a slowing of US economic growth and has lessened the likelihood of an interest rate hike in the near future.

FOREX EUR USD: Expected Return to LB

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Yesterday’s Trading:
On Tuesday the euro/dollar renewed from 1.1171 to 1.1278. No important US macroeconomic data came out. The ECB’s Mario Draghi didn’t mention monetary policy in his speech. I believe that a fall in the USD was provoked by the Canadian dollar which has been strengthening with the price of oil. Brent is up 5.6% to 52.15 USD. The commodities market has reacted positively to OPEC General Secretary Abdallah Salem el-Badri’s speech in which he mentioned the readiness of OPEC’s 21 member states to meet other oil producer states to discuss global oil prices.

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