The Federal Reserve (FOMC), US central bank, will publish its December meeting minutes on Wednesday, January 5, at 21:00 GMT+2 (MetaTrader time).
Where will EUR/USD head to?
- Morgan Stanley forecasts EUR/USD at 1.16 at the end of March 2020, ahead of a further rise to 1.18 by the end of June 2020. According to the bank, Eurozone growth will pick up as US growth starts to slow. In addition, the euro will be supported by political factors. A 2020 resolution to Brexit should reduce economic uncertainty for the UK and its major trading partners, including the euro area.
- Rabobank reminds, however, that the USD is still the only dominant currency on the global payments system and that the US economy continues to perform well relative to other major countries.” The bank foresees EUR/USD at 1.09 in a three month period and at 1.11 in nine months.
- BNP Paribas is somewhere in the middle. Its analysts think that the Fed will cut its official rate twice in the first half of 2020 in reaction to a slowing economy, moderate inflation, and high uncertainty. At the same time, the ECB will also keep the accommodative policy and this won’t let the euro strengthen much against the USD. As a result, there will be little change in EUR/USD even though the euro’s fair value is quite higher than current pricing.
What will happen? NonFarm Payrolls data will be announced at 15:30 MT (GMT+2) on Friday, December 3…
The United States will publish Flash Manufacturing and Services PMIs on Tuesday at 16:45 GMT+2.
The United States will publish the Initial Jobless Claims on Thursday, December 30, at 15:30 GMT+2 (MetaTrader time).
The US will reveal Non-farm payrolls on January 7, Friday, at 15:30 GMT+2 (MetaTrader time).
The United States will publish the ISM Non-Manufacturing PMI on Thursday, January 6, at 17:00 GMT+2 (MetaTrader time).