Euro Zone Inflation Data to support rising EUR

Daily Update - 16th May 2017

Yesterday’s Focus:

• USD NAHB Housing Market Index

It was a relatively quiet day in the FX market, however The National Association of Home Builders survey which shows sentiment among homebuilders came in at 70 for May. The number was better than the estimated 68. but overall, the American currency remained weak, as the market is having second thoughts about a June Fed's hike.

Today’s Focus:

• EUR Gross Domestic Product, ZEW Survey – Current Situation & Economic Sentiment, Trade Balance
• GBP Core Consumer Price Index & Consumer Price Index
• USD Housing Starts, Building Permits & Industrial Production

The busiest day of the week as major reports will come out from Euro Zone, UK and USA. First up will be GDP figures and Trade Balance from Euro Zone. This will be followed by 2 economic surveys which measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic.

By midday focus shifts to UK where inflation data such as Core Consumer Price Index & Consumer Price Index will be released. Later half of the day will be governed by US reports where it will focus on the Housing market.