Cookies help us deliver our services. By using our services, you agree to our use of cookies.
Learn more Got it
Dakar 2017
Roboforex is an official sponsor
of "Starikovich-Heskes Team"
at the Dakar 2017
Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Euro is stable so far. Overview for 23.11.2016
Ask a question
Did not find the information you need? Ask your questions and get answers online!
Enter chat
Or enter your phone number in the form below and we will call you right away.
Call back

The Euro is stable so far. Overview for 23.11.2016

On Wednesday afternoon, the main currency pair is moving non-dynamically; investors aren’t ready to risk and start buying.

The EUR/USD pair looks stable, but investors make it clear that they aren’t ready to buy whereas there are no reason to sell as well. The current quote for the instrument is 1.0632.

The statistics from Europe published today was quite mixed. The Markit Services PMI Flash in November increased up to 52.6 points in France and up to 55 points in Germany. For the entire Eurozone, the indicator improved up to 54.1 points. In all three cases, the numbers are better than market expectations.

The same indicator, but for the Manufacturing (the Markit Manufacturing PMI Flash), in France was 51.5 points, which is a bit more than expected. In Germany, it fell up to 54.4 points against expectations of 54.8 points. In the Eurozone, the indicator increased up to 53.7 points (53.3 points expected).

It is noteworthy that all published statistics steadily stays above 50 points, which is a psychologically-crucial level dividing decline from growth.

Investors are waiting for the macroeconomic report from the USA to be published in the evening, although they have a liking for the American currency even without support from statistics. This is why bulls are afraid to buy the Euro even if the current levels are rather attractive. The USD will strengthen again as soon as they start talking about the rate increase in the USA.
RoboForex Analytical Department

Dear reader!

Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.


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.