The Euro is planning to recover. Overview for 21.11.2018

The major currency pair remains “in the red” on Wednesday; the Euro is not afraid of the Italian news.

EURUSD is getting more expensive in the middle of the week. The current quote for the instrument is 1.1405. 

There were no statistics from the Euro Area before noon, but the second half of the day is overwhelmed with numbers. The USA are scheduled to report on the Unemployment Claims, the Durable Goods Orders, and the Existing Home Sales. 

Today’s news that may seem interesting is the revised Italian GDP expectations for the current year by the Italian Statistical Office. Expectations were changed from +1.4% to +1.1%. At the same time, forecasts for 2019 remain intact at +1.3%. 

Forecast for the next year is still based on the troublesome budget, where expenses are expected to support the domestic demand. However, the budget itself hasn’t approved yet due to the lack of consensus between the European Commission and Italy on expense items and growth of deficit. 

It is known that the European Commission is expecting the Italian economy to add 1.2% in 2019, while the International Monetary Fund is predicting not more than 1.0%.