The main currency pair continues weakening on Thursday as investors are moving back to the USD.
In total, the EUR/USD pair is being sold for the fifth trading session excluding the volatile Wednesday, when intraday fluctuations were about three patterns, both to the upside and downside. The current quote for the instrument is 1.0893. The closest support is at 1.0850.
Today’s statistics from France was out of the market’s sight. The French Industrial Production in September dropped 1.1% m/m after adding 2.3% m/m in August. The Manufacturing lost 1.1% m/m after increasing by 2.4% m/m the month before, although it was predicted to reduce by 0.1% m/m only. The total output of the Manufacturing sector in the third quarter gained 0.2% q/q.
In September, the Italian Industrial Production decreased for the first time in three months. The indicator fell by 0.8% m/m after adding 1.8% in August. On a year-on-year basis, the indicator reduced by 1.8%.
Such complicated statistics on the industrial production and the manufacturing in major European countries is coming from irregularity of orders and financial payments – one day companies increase output, another day the decrease it, because they are unable to estimate future perspectives.
RoboForex Analytical Department
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