On Wednesday, the main currency pair fell at first, then recovered once again, and the evening promises to be alike.
On Wednesday afternoon, the EUR/USD pair is growing just a little bit after a quite energetic first half of the day. The current quote for the instrument is 1.1223.
The German statistics published this morning was not significant. The GfK Consumer Confidence Index in September reduced up to 10.0 points after 10.2 points the month before. The components of the report are not very positive: economic expectations fell up to 6.8 points this month, and consumers' income expectations decreased up to 52.6 points. The component, which takes into account buying activity, got a bit worse as well.
This statistics contradicts with the data published by Germany the other day, which indicated that the German business feels confident about the future. It appears that not everything is good when it comes to the Brexit and the broken integrity of the European Union. Most likely, the statistics to be published in late September and October is going to be rather different, especially if there is new information about the plans of the Brits.
Some time later, investors assumed that the sales of the EUR/USD pair were excessive, and the pair returned where the trading session had started.
It seems that not only statistics makes the instrument so sensitive, it might be the influence of several factors, from political to fiscal. The elections in America are coming, and the results are surely to impact the way the USD behaves since it has already responded to the televised debates of the candidates. Later, it will be the December meeting of the Fed that will take the stage.
RoboForex Analytical Department
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