EUR/USD Weekly Fundamental Analysis September 23-27, 2013 Forecast

September 21, 2013

eurusd weekly bnsWeekly Analysis and Recommendation:

The EUR/USD ended the week at 1.3522 gaining almost 200 points after the Fed decision sent the US dollar tumbling. Goldman Sachs now expects QE tapering process to start at December 2013 FOMC meeting and to conclude in September 2014, three months later than before; GS’s baseline is that first step will consist of $10b cut in Treasury purchases; these steps remain data dependent in all respects: timing, size, and composition. Manufacturing in the Philadelphia region expanded in September at the fastest pace since March 2011, a sign factories are picking up momentum. The Federal Reserve Bank of Philadelphia’s general economic index jumped to 22.3 this month from 9.3 in August. Readings greater than zero signal growth in the area, which covers eastern Pennsylvania, southern New Jersey and Delaware. Measures of orders, sales and factory employment increased at faster rates in September, while a gauge of the six-month outlook was the strongest in a decade

Investors will now be paying close attention to U.S. data next week, as the Fed has repeated that any tapering of its bond purchases will depend on the health of the economy. Consumer confidence and home prices data will be released Tuesday, with durable goods on Wednesday and the final reading of second-quarter growth on Thursday. Consumers in the eurozone that share the euro continued to become less pessimistic in September, but with unemployment still close to record highs and wages growing more slowly than inflation, that is unlikely to herald a sharp pickup in spending. The European Commission Friday said its preliminary estimate for the headline measure of consumer confidence in the currency area rose to minus 14.9

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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.

Major Economic Events for the week of September 16-20 actual v. forecast for Euro, GPB and USD

Historical: From 2011 to Present

Highest: 1.4577 USD on Jul 03, 2011

Average: 1.3165 USD over this period.

Lowest: 1.2041 USD on Jul 24, 2012

 eurusd bnsnla 0921

Economic Highlights of the coming week that affect the Euro, GBP  and the USD

Government Bond Auction

Date Time Country 

Sep 23 09:30 Germany

Sep 23 15:30 Italy

Sep 24 08:10 Holland

Sep 24 08:30 Spain

Sep 24 09:10 Norway

Sep 24 14:30 UK

Sep 24 15:30 Italy

Sep 24 17:00 US

Sep 25 09:10 Italy

Sep 25 14:30 Sweden

Sep 25 17:00 US

Sep 26 09:10 Italy

Sep 26 09:10 Sweden

Sep 26 17:00 US

Sep 27 09:10 Italy

 

 

 

 

Article source: http://www.fxempire.com/fundamental/fundamental-analysis-reports/eurusd-weekly-fundamental-analysis-september-23-27-2013-forecast/

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