Weekly Forex News Events for EURUSD – 19th to 23rd Dec 2016
EURUSD has kept going down for the last 7 weeks after having big consolidation period within the range of 1.04700 to 1.14600. Last week, the pair went down towards the level of 1.03650, which is the lowest since 2002. This means the pair is going down towards parity. The question is would it happen this year?
There are some big holidays to finish off the year 2016. However, some news events will affect the pair and put more fuel in the tank. Here is one thing though; if parity does not happen this year, then traders might have to wait much longer than they have expected.
Let us see what those news events are next week that might play a significant role in the market to drive this pair down.
On Thursday (22/12/2016) 13.30 GMT there are data to be released by
- Core durable goods orders m/m
- Final GDP q/q
- Unemployment claims
Data from these sources could create huge volatility. Especially, “Unemployment claims” plays an important role in the market. This week the forecast is 255K. Last week the actual claim was 254K. The consistency suggests that the claim might be lower than the forecast. If it really is, then the USD will get stronger, which will bring EURUSD more down. Here is another thing on the 8th December 2016 the forecast and the actual figure were same 258K, on the 1st December 2016 they were 268K, and 252K, 23rd November 2016 they were 251K, 241K.
The overall outcome was bad. There were more claims than expectation. However, this time the forecast itself a big number, which should not be outnumbered by the actual number. However, if it does, then the EURUSD might go up to settle itself at a better place from where the sellers of the pair enjoy their sell ride even more up to the level of 1.00000.
Mark your Forex calendar that the 22nd Dec is an important date that might see a spike in volatility for EURUSD.
Stay safe out there…
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