The Euro is staying close to its three week peaks. Overview for 06.12.2016
06.12.2016
The main currency pair is moving a little bit upwards; so far, there are no reasons to continue yesterday’s growth.
The EUR/USD pair is barely growing on Tuesday afternoon. The current quote for the instrument is 1.0765.
Despite the German statistics, the morning was quite calm. The Factory Orders in Germany skyrocketed by 4.9% m/m against expectations of just 0.6% m/m. The Euro barely responded to the report.
The daily report indicated that the revised Eurozone GDP in the third quarter was a bit better than the preliminary number, 1.7% y/y against 1.6% y/y. On QoQ, the indicator added 0.3%, just as expected.
Some interesting reports are to be published this evening. The USA are going to report on the Revised Nonfarm Productivity in the third quarter, the Balance of Trade and the Factory Orders in October. However, the market isn’t expecting any significant responses to these reports, because investors already have enough causes for reflection.
The “fire” in Italy died out before even flaming up: the country’s president offered Matteo Renzi to keep his position at least until approval on the State budget. Just as expected, Italian authorities are doing their best to prevent the political crisis from aggravating, because the country is very unlikely to survive it without losses.
Meanwhile, the market’s attention was shifted to the meeting of the European Central bank, which is set to take place this Thursday. The ECB is expected to decide about the QE program: it may either be the news that the program is expanded or about the repurchase of securities. It might be the reason why the EUR/USD pair is rather calm right now.
RoboForex Analytical Department
The EUR/USD pair is barely growing on Tuesday afternoon. The current quote for the instrument is 1.0765.
Despite the German statistics, the morning was quite calm. The Factory Orders in Germany skyrocketed by 4.9% m/m against expectations of just 0.6% m/m. The Euro barely responded to the report.
The daily report indicated that the revised Eurozone GDP in the third quarter was a bit better than the preliminary number, 1.7% y/y against 1.6% y/y. On QoQ, the indicator added 0.3%, just as expected.
Some interesting reports are to be published this evening. The USA are going to report on the Revised Nonfarm Productivity in the third quarter, the Balance of Trade and the Factory Orders in October. However, the market isn’t expecting any significant responses to these reports, because investors already have enough causes for reflection.
The “fire” in Italy died out before even flaming up: the country’s president offered Matteo Renzi to keep his position at least until approval on the State budget. Just as expected, Italian authorities are doing their best to prevent the political crisis from aggravating, because the country is very unlikely to survive it without losses.
Meanwhile, the market’s attention was shifted to the meeting of the European Central bank, which is set to take place this Thursday. The ECB is expected to decide about the QE program: it may either be the news that the program is expanded or about the repurchase of securities. It might be the reason why the EUR/USD pair is rather calm right now.
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.