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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Euro is stable so far. Overview for 23.11.2016
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The Euro is stable so far. Overview for 23.11.2016

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.
 
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