Euro Forecast: EUR/USD Week Ahead Outlook Poor, ECB Meeting in Focus
Fundamental Euro Forecast: Neutral
After the recent falls in EUR/USD there are plenty of reasons to still be bearish, including weak German economic growth, another political crisis in Italy and a slow vaccine rollout in the EU.
Moreover, little is expected from the coming week’s ECB meeting, with all the central bank’s key settings likely to remain unchanged.
However, it is also possible that all the bad news has been priced in to the exchange rate already and that – barring a strong risk-off move that boosts the US Dollar – the Euro will spend the week stabilizing before perhaps weakening further.
(Bloomberg) Resurgent coronavirus outbreaks will vex central bankers on five continents this week as they weigh the threat of more damage to growth against the hope that mass vaccinations will reopen economies.
US stocks slide as biggest jobless-claims surge since March outweighs stimulus expectations
Matthew FoxJan 15, 2021, 03:18 IST
Lucas Jackson/Reuters
stocks ended Thursday lower as investors digested a surge in weekly jobless claims.
The reading of 965,000 new unemployment filings represented the biggest increase since March and the highest level since August.
The weak jobs report could give fuel to Democrats passing a massive stimulus bill once President-elect biden is inaugurated.
US stocks ended Thursday lower as investors digested a surge in weekly jobless claims.
Jobless claims surged to 965,000 for the week that ended on Saturday, representing the biggest surge since March and the highest level since August. Economists had expected 800,000 jobless claims for the week.Consumer confidence also took a hit, according to the Bloomberg Consumer Comfort Index, which fell 1.2 points to 43.2 in the week ended January 10.