The euro continues to fall
23.09.2015
On Wednesday, the main currency pair remains under pressure, and the investors are pessimistic.
Thus, the fall of the euro currency continues. It would seem that investors should have already had to calm down and stabilize the main currency pair. But sales did not cease.
This morning it became known that the French GDP in the second quarter, according to revised statistics, remained unchanged and in April it was at the zero mark. Yearly the French economy grew by 1.0%. The index of business activity in the country at the end of September rose to 50.4 points against the forecast of 48.5 points. Not a bad result, but it could have been stronger.
German statistics came out weaker than expected. The September index of business activity in the service sector amounted to only 54.3 points against expectations of 54.6 points. A similar release for the manufacturing sector showed 52.5 points with the forecast of 52.8 points.
The Eurozone released similar statistics. The index of business activity in the manufacturing sector in September was in line with expectations and amounted to 52 points, the index of the non-manufacturing sector stood at 54 points with the forecast of 54.2 points.
The statistics are too heterogeneous to become an essential pillar of the European currency. On top of that the Chinese data was weak and contributed to the growth of support in favor of the US dollar.
RoboForex Analytical Department
Thus, the fall of the euro currency continues. It would seem that investors should have already had to calm down and stabilize the main currency pair. But sales did not cease.
This morning it became known that the French GDP in the second quarter, according to revised statistics, remained unchanged and in April it was at the zero mark. Yearly the French economy grew by 1.0%. The index of business activity in the country at the end of September rose to 50.4 points against the forecast of 48.5 points. Not a bad result, but it could have been stronger.
German statistics came out weaker than expected. The September index of business activity in the service sector amounted to only 54.3 points against expectations of 54.6 points. A similar release for the manufacturing sector showed 52.5 points with the forecast of 52.8 points.
The Eurozone released similar statistics. The index of business activity in the manufacturing sector in September was in line with expectations and amounted to 52 points, the index of the non-manufacturing sector stood at 54 points with the forecast of 54.2 points.
The statistics are too heterogeneous to become an essential pillar of the European currency. On top of that the Chinese data was weak and contributed to the growth of support in favor of the US dollar.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.