Tuesday’s trading session is troublesome for the main currency pair as the USA are electing their new leader.
The EUR/USD stopped falling after significant sales over the last couple of days, but it’s too early to tell about purchases. Investors are experiencing strain in anticipation of the intriguing results of the presidential elections in the USA. The current quote for the instrument is 1.1055.
The statistics from Germany published this morning showed that the German Industrial Production in September plummeted and lost 1.8% m/m, although it was predicted to reduce only by 0.2% m/m. the interesting fact that the similar statistics in August was revised for the better, and the revised number was +3% m/m instead of the preliminary calculations of +2/5%.
The components of the report show that the manufacturing output lost 1.7% and the construction – 1.5%. Following the strong statistics in August, the current report looks more and more complicated. On the one hand, it’s too early for a seasonal factor to have such influence on the data. On the other hand, there is a strong possibility that facilities reduced production on the assumption that the demand for these sectors’ output would be relatively insignificant in late autumn and winter.
Strange as it may seem, but this statistics didn’t draw a lot of attention from investors. However, everything is quite simple: at the moment, prices contain more politics than ever before. It may continue this way for the next couple of days, but later emotions will start settling down.
RoboForex Analytical Department
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