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Weekly EUR/USD Outlook: 2017, January 29 - February 05

EUR/USD made a move to higher ground but found it hard to continue rising. Will it make substantial falls? GDP and inflation figures stand out in a busy week.

1. Spanish Flash GDP: Monday, 7:00. Another growth rate of 0.7% is expected for Q4.
2. German CPI: Monday, data from the states during the morning and the final CPI measure is out at 13:00. After 0.7% in December, a drop of 0.5% is on the cards.
3. French GDP: Tuesday, 6:30. A stronger growth rate of 0.4% is projected.
4. German Retail Sales: Tuesday, 7:00. A bounce is on the cards now: 0.6%.
5. French CPI: Tuesday, 7:45. A drop of 0.5% is forecast.
6. Spanish CPI: Tuesday, 8:00. Another leap to 2.4% is expected.
7. German Unemployment Change: Tuesday, 8:55. A slide of 5K is predicted.
8. CPI: Tuesday, 10:00. Headline inflation is expected to continue rising, reaching 1.5%, while core inflation is expected to stand at 0.9% once again.
9. GDP: Tuesday, 10:00. This time, output is predicted to increase by 0.4%.
10. Manufacturing PMIs: Wednesday morning: 8:!5 for Spain, 8:45 for Italy, the final figure for France at 8:50, final measure for Germany at 8:55 and the final number for the whole euro-zone at 9:00.
11. EU Economic Forecasts: Wednesday, 10:00. The European Commission publishes updated economic forecasts twice a year.
12. Spanish Unemployment Change: Thursday, 8:00. A rise of 60.2K is estimated.
13. ECB Economic Bulletin: Thursday, 9:00. Two weeks after the decision which saw Draghi downing the euro with his downside risks, we get a detailed report about what the Governing Council members had in front of their eyes.
14. Services PMIs: Friday morning: 8:15 for Spain, 8:45 for Italy, the final figure for France at 8:50, final measure for Germany at 8:55 and the final number for the whole euro-zone at 9:00.
15. Retail Sales: Friday, 10:00. A rise of 0.3% is on the cards.

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