Looking at the 29 December EURUSD Fundamental Drivers Forecast, Europe’s common currency is regaining momentum, with the pair surging past 1.1900 on Thursday. Find out more.
29 December, OctaFX – The year 2017 could go out on a whimper this Friday, as a dearth of economic data keeps investors on the sidelines. It has been a relatively quiet week for the financial markets amid the holidays. This will likely continue in the final session of the week as market participants hold out until after the new year.
Action begins at 08:00 GMT with a report on Spanish inflation. Spain’s harmonized index of consumer prices (HICP) is expected to rise 1.5% annually in December, down from the previous month’s 1.8% increase. One hour later, the Italian government will report on producer inflation for the month of November. In a separate report, the Spanish government will issue its current account balance for the month of October.
The Greek government will report on retail sales and producer inflation at 10:00 GMT. The retail sales report will cover October, while the producer data will be for the month of November.
Germany will issue its latest inflation report at 13:00 GMT. Germany’s HICP is expected to rise 1.4% year-over-year, down from 1.5% the previous month. The consumer price index (CPI) is forecast to rise 1.5% annually.
29 December EURUSD Fundamental Drivers Forecast
Europe’s common currency is regaining momentum, with the EUR/USD surging past 1.1900 on Thursday. The pair was last seen trading in the mid-1.1900 region. EUR/USD remains well supported at the 100-day moving average above 1.1800. The psychological 1.2000 region is likely the next major resistance level.
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