Weekly Outlook for EUR/USD: 2016, December 04 - December 11-eurusd-d1-metaquotes-software-corp-2.png

EUR/USD maintained its range as we entered the last month of the year. The ECB meeting is left, right and center this week, but certainly not the only event, in a week that starts with the fallout from the Italian referendum.

  1. Italian Referendum: Sunday. Italians go to the polls to decide on far-reaching changes to the political system, moves that, if approved, are supposed to make the third-largest economy of the euro-zone more governable.
  2. Eurogroup meetings: Monday, with the wider Ecofin on Tuesday. Finance ministers of the 19-country euro area convene to discuss various matters.
  3. Services PMIs: Monday: 8:15 for Spain, 8:45 for Italy, final French figure at 8:50, final German number at 8:55 and the final read for November for the whole euro-zone at 9:00.
  4. Sentix Investor Confidence: Monday, 9:30.
  5. Retail sales: Monday, 10:00.
  6. German Factory Orders: Tuesday, 7:00. A rise of 0.6% is projected.
  7. Retail PMI: Tuesday, 9:10. No significant change is expected now.
  8. GDP: Tuesday, 10:00.
  9. German Industrial Production: Wednesday, 7:00.
  10. French Trade Balance: Thursday, 6:30. Contrary to Germany, France has a chronic trade deficit.
  11. ECB decision: Thursday: decision at 12:45 and the press conference is at 13:30. The European Central Bank is not expected to change its monetary policy, leaving the main lending rate at 0%, the deposit rate at -0.40% and the QE program at 80 billion euros per month.
  12. German Trade Balance: Wednesday, 7:00. A narrower surplus of 20.8 billion is forecast.
  13. French Industrial Production: Friday.

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