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#1 16-12-2019 14:41:55

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EUR/USD: the main reports that could influence the pair this week

EUR/USD: the main statistics reports that could influence the pair this week
The week started strong for the pair in terms of economic publication, with mixed preliminary PMI indices in Europe on Monday, which caused the EUR/USD pair to drop slightly.

Below are the upcoming events on the economic forex calendar that could influence trading on the eurodollar pair this week:

17 December 2019

On Tuesday, US building permits and housing starts will be closely monitored. Building permits are expected to fall to 1,400M after 1,460M the previous month, while housing starts are expected to rise from 1,313M to 1,344M.

A little later at 15:00, we will then monitor US industrial production, which economists expect to grow by 0.8% in November, after the -0.7% drop recorded the previous month.

18 December 2019

On Wednesday, traders' attention will turn once again to Europe, with the IFO German Business Climate Index for December at 10:00.

The consensus anticipates an increase to 95.5, after 94 points the previous month, which would mark a third consecutive month of rebounds of the index.

At 11:00, investors will turn to the November Euro-Zone CPI, which should prove to be confirmed by the flash estimate at 1%.

19 December 2019

Three potentially influential U.S. statistics on the EUR/USD and other currency pairs: Weekly Unemployment Claims, the Philadelphia Fed Index and Existing Home Sales.

Weekly US unemployment claims (14:30) are expected to fall to 224k from 251k the previous week. The Philadelphia Fed index, also expected at 14:30, is expected to decline to 8 points after 10.3 points the previous month. Lastly, sales of existing homes are expected to decline by -0.2% after +1.8% previously according to economists' forecasts.

20 December 2019

For the end of the week, the central event will be the publication of the third estimate of US GDP for Q3 2019. Economists don't expect any revisions, with growth projected at 2.1% on a quarterly basis.

The University of Michigan's consumer confidence index will also be on the agenda, and is expected to remain stable at 99.2 points according to economists' forecasts.

"Anything worth having is worth going for - all the way." - J.R. Ewing



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