Advertisement
Advertisement

EUR/USD Fundamental Analysis – November 26, 2015 – Forecast

By:
Barry Norman

Analysis and Recommendations: The EUR/USD tumbled 57 points to reach 1.0586 as traders prepare for the US holiday and are counting down the days until the

EUR/USD Fundamental Analysis – November 26, 2015 – Forecast

EUR/USD Fundamental Analysis – November 26, 2015 - Forecast
EUR/USD Fundamental Analysis – November 26, 2015 - Forecast
Analysis and Recommendations:

The EUR/USD tumbled 57 points to reach 1.0586 as traders prepare for the US holiday and are counting down the days until the December ECB stimulus meeting.  European Central Bank policy makers are looking at widening the scope of their bond buying or implementing a two-tier penalty charge on banks that leave cash with the ECB, Reuters reported Wednesday. The moves under consideration include purchases of regional bonds and even buying rebundled loans with a risk of non-payment, Reuters said, citing officials speaking on condition of anonymity.

The head of the European Union’s executive said Wednesday that the region’s Schengen border-free system was under threat and warned that if it fails, the single currency could fall with it. Speaking in the European Parliament in Strasbourg about the recent terror attacks in Paris, European Commission President Jean-Claude Juncker acknowledged that the “Schengen system is partly comatose.”

“If the spirit of Schengen leaves us…we’ll lose more than the Schengen agreement. A single currency doesn’t make sense if Schengen fails,” he said. “You must know that Schengen is not a neutral concept. It’s not banal. It’s one of the main pillars of the construction of Europe.”

Faced with the biggest migration influx since the aftermath of the World War II and the recent terror attacks in Paris, a number of countries, including Germany, France and others have tightened controls of their borders. Member states are also looking to revise Schengen’s rules to t ighten control of the EU’s external border and to change the way the free movement rules apply to asylum seekers.

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 up to the data analysis and information in our weekly reports.

Today’s economic releases:

Cur.

 

Event

Actual

Forecast

Previous

 

  USD

 

API Weekly Crude Oil Stock

2.600M

-0.200M

-0.482M

 

 

  JPY

 

Monetary Policy Meeting Minutes

 

 

 

 

 

  AUD

 

Construction Work Done (QoQ) (Q3)

-3.6%

-2.1%

2.1%

   

  GBP

 

BBA Mortgage Approvals

 45.4

45.5K

44.5K

 

 

  AUD

 

RBA Assist Gov. Debelle Speaks 

 

 

 

   

 

eurusd

Upcoming Economic Events that you should be monitoring:

Wednesday, November 26, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

 

 

 

United States – Thanksgiving Day

  NZD

 

Trade Balance (MoM) (Oct)

 

-937M

-1,222M

 

 

  NZD

 

Trade Balance (YoY) (Oct)

 

-3,370M

-3,200M

 

 

  AUD

 

Private New Capital Expenditure

 

-3.0%

-4.0%

 

 

  EUR

 

GfK German Consumer Climate (Dec)

 

9.2

9.4

   

Government Bond Auctions

Date Time Country

Nov 25 11:03 Sweden Sek 4bn 1% Nov 2026 bond

Nov 25 11:10 Italy Auctions CTZ/BTPei

Nov 25 11:30 Germany Eur 3bn 1.0% Aug 2025 Bund

Nov 25 17:30 US Usd 35bn 2-year FRN

Nov 25 19:00 US Usd 29bn 7-year note

Nov 26 11:03 Sweden Sek 5bn 1% Nov 2026 bond exchange

Nov 27 11:03 Sweden 1.5% Nov 2023 bond exchange, 1% Nov 2026 bond exchange

Nov 27 11:10 Italy Auctions BTPs

Nov 27 N/A Spain Announces details of 03 Dec

Nov 30 11:03 Sweden Holds bond auction

Dec 01 11:30 UK 1.5% 2021 Gilt auction

Dec 02 16:30 Sweden Announces details of Bond on 11 Dec

Dec 03 10:30 Spain Auctions

Dec 03 10:50 France Auctions OATs

Dec 03 11:03 Sweden Holds I/L bond auction

Dec 04 11:03 Sweden Holds I/L bond auction

 

About the Author

Did you find this article useful?

Advertisement