Daily Fundamental Forecast Dec 12 2014

forex y0vkmv min
forex y0vkmv min

Yesterday , the USD made some gains after strong retail sales data  . This early morning ,Chinese Industrial Production for November declines to 7.2% vs expectation 7.5% , this scenario put the AUDUSD and the NZDUSD under pressure , so till US data is released , both pairs will remain under pressure , note that both pairs trade near critical support level , AUDUSD: 0.8220 , NZDUSD : 0.7760 , As a result ; USD data will give both currencies a clear direction today ?!!!!

Now ,  the question is : will the USD continue its gains today ?? to find out !!! let’s highlight the most critical data which may influence currency market today :

  • Euro zone Industrial Production (MoM) (Oct) at 10:00 . Last read 0.6% , forecast 0.1% . Market impact : A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.
  • US Producer Price Index (PPI) (MoM) (Nov) at 13:30 .Last read 0.2% , forecast -0.1% . Market impact :A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
  • US Michigan Consumer Sentiment (Dec)  at 14:55 . Last read 88.8 , forecast 89.7 . Market impact : A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

*All times are GMT ..

 

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