EUR/USD Fundamental Analysis September 16, 2013 Forecast

Posted September 13, 2013 10:13 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size      
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Analysis and Recommendations:

The EUR/USD tumbled to trade at 1.3289 down by 10 pips in the early European session. EU employment data was positive with Q/Q above expectations while Y/Y missed the mark but overall showed an improvement.  The US dollar is trading in the green gaining 10 points as traders prepare for a barrage of data from the US. Retail sales are expected to print better than forecast while PPI and CPI are expected to remain in line with forecast. Traders are watching carefully for any clue as how the FOMC will decide at next week’s meeting.

The dollar edged higher against the euro on Thursday after data showed a sharp fall in U.S. weekly jobless claims and a contraction in euro zone industrial output. But the dollar slipped versus the yen as U.S. Treasury yields fell and some traders said that while the Federal Reserve will likely start reducing stimulus next week, the move will be smaller than initially thought. Uncertainty about the timing and pace of Fed action grew after last week’s disappointing U.S. August employment report. Thursday’s U.S. jobless claims data further clouded the picture as much of the decline appeared due to technical problems in claims processing. Analysts expect major currencies to be in a holding pattern going into the Fed’s meeting next Tuesday and Wednesday. Before that, U.S. retail sales and consumer prices will be closely watched.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.    

Economic Data September 13, 2013 actual v. forecast

 

Upcoming Economic Events that affect the CHF, EUR, GBP, CAD and USD

Government Bond Auction

Date Time Country 

Sep 16 09:00 Slovakia

Sep 16 09:10 Norway

Sep 17 08:30 Spain

Sep 17 09:30 Belgium

Sep 18 09:10 Sweden

Sep 18 09:30 Germany

Sep 18 09:30 Portugal

Sep 19 08:30 Spain

Sep 19 08:50 France

Sep 19 09:30 UK

Sep 19 09:50 France

Sep 19 15:00 US

Sep 19 17:00 US

Sep 20 15:30 Italy

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