EURUSD Weekly Forecast March 13-17
Buz Investors EURUSD Weekly Forecast EUR/USD posted a second week of gains despite a strong US jobs report that provided confirmation that the Fed will raise rates in the upcoming week. Similar to the prior week, the bulk of gains in the pair materialized on Friday to bring the pair back into positive territory for the week. A stronger than expected ADP jobs report on Wednesday provided reassurance that the Fed will proceed to tighten as communicated, causing the markets to further price in a March hike ahead of the NFP report. With the March probabilities nearly fully priced in at 90.8% ahead of the NFP release and built up expectations for a stronger report, the dollar
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EURUSD Weekly Forecast
Ahead of the Fed meeting US inflation data will be released and stands to have a high impact on EUR/USD. The consumer price index rose 0.6% in January to beat an expected 0.3%. Analyst expectations for the upcoming week’s release have not been set as of yet. A stronger reading would build a case for the next rate increase to materialize sooner than later, putting EUR/USD at risk of a decline.
Along with the CPI data on Wednesday, the latest retail sales report will be released out of the United States. Other high impacting data from the US includes PPI data on Tuesday, building permits, unemployment claims and the Philadelphia Fed manufacturing index on Thursday. The University of Michigan will release their consumer sentiment data on Friday.
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