EUR/USD Fundamental Forecast – March 28, 2016

The EUR/USD dipped 16 points on the holiday to trade at 1.1160 with no data except for US GDP due late in the day with most markets closed. U.S. releases on Thursday showed fewer jobless claims than forecast in the week through March 19 and durable goods orders fell less than projected last month. American data have steadily improved over the last few weeks, with Bloomberg’s gauge of economic surprises climbing to the most positive level in more than a year.

“The data should continue to strengthen, it should continue to surprise a little bit and that should be sufficient for them to go in June,” Binky Chadha, chief global strategist at Deutsche Bank AG, said in an interview on Bloomberg Television. The upside for the greenback may be limited as “the dollar itself has also priced in a lot.”

Euro area economic growth is expected to accelerate further over the next several years but weak external demand and a slowdown in emerging markets will dampen the recovery, the European Central Bank said on Thursday in a regular economic bulletin.

In an outlook that is broadly in line with the ECB’s projections presented at the March 10 rate meeting, the bank added that government debt will decline only gradually and further consolidation is needed to set the public debt ratio on a downward path.

FxEmpire provides in-depth analysis for each asset 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, which covers the current week and are published by Sunday before the new week begins. Daily we share any new events, forecasts or analysis that affect the current day. To achieve a full accurate understanding it is important that you study all of our data and analysis as a whole.

Today’s economic releases:

 

Upcoming Economic Events that you should be monitoring:

Monday, March 28, 2016

Government Bond Auctions

Date Time and Country

Mar 28 19:00 US Holds 2-year notes auction

Mar 29 19:00 US Holds 5-year notes auction

Mar 30 11:03 Sweden Holds bond auction

Mar 30 11:10 Italy Holds bond auction

Mar 30 11:30 Germany Eur 4bn Apr 2021 Bobl

Mar 30 19:00 US Holds 7-year notes auction

Mar 31 17:20 Sweden Details of I/L auction on Apr 07

Apr 01 N/A Italy Details of new BTP€i on Apr 04