The Euro remains under pressure. Overview for 10.10.2016
10.10.2016
Despite relatively good statistics from the Eurozone, the main currency pair is falling on Monday.
The EUR/USD pair is down on Monday. It is being sold for the second day in a row, although the interest for the US currency is rather insular. The current quote for the instrument is 1.1158.
Today’s statistics indicated that the Sentix Investor Confidence in October increased up to 8.5 points after 5.6 points in September and against the predicted number of 6.2 points. The current number is the highest since July this year.
The Sentix current assessment, in its turn, increased up to 6.3 points last month after 4.5 points the month before. The Sentix business expectations increased up to 10.8 points.
Improvements in all components of the report are surely very positive, taking into account mixed sentiments of investors prior to the German/French elections and in connection with the oncoming Brexit. At the moment, when there are more than enough risks, both visible and hidden, such confident reports look particularly positive.
However, the report didn’t provide enough support for the Euro. The attention of the markets is focused on the Energy Summit in Istanbul, and investors require a “safe haven” currency for hedging their risks.
RoboForex Analytical Department
The EUR/USD pair is down on Monday. It is being sold for the second day in a row, although the interest for the US currency is rather insular. The current quote for the instrument is 1.1158.
Today’s statistics indicated that the Sentix Investor Confidence in October increased up to 8.5 points after 5.6 points in September and against the predicted number of 6.2 points. The current number is the highest since July this year.
The Sentix current assessment, in its turn, increased up to 6.3 points last month after 4.5 points the month before. The Sentix business expectations increased up to 10.8 points.
Improvements in all components of the report are surely very positive, taking into account mixed sentiments of investors prior to the German/French elections and in connection with the oncoming Brexit. At the moment, when there are more than enough risks, both visible and hidden, such confident reports look particularly positive.
However, the report didn’t provide enough support for the Euro. The attention of the markets is focused on the Energy Summit in Istanbul, and investors require a “safe haven” currency for hedging their risks.
RoboForex Analytical Department
Attention!
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.