Euro is ready to grow again. Overview for 09.12.2020
The major currency pair coped with its troubles and is ready to go on growing. The current quotation is 1.2134.
Frankly speaking, the statistics published yesterday turned out to be uneven from all hands. For example, another estimation of the GDP in the EU in the third quarter showed an increase by 12.5%, which was a bit weaker than the previous estimation at 12.6%. Also, the final employment level in the EU in the third quarter grew by 1% against 0.9% earlier.
The ZEW Indicator of Economic Sentiment in December increased dramatically to 54.4 points against 32.8 previously and forecast 37.5 points. The same index for Germany solely displayed an increase to 55 points from 39.0 points previously.
An improvement in the economic sentiment at the end of the year is great. However, we can suppose that it is based on a local – which means short-term – animation of demand before winter holidays. Hence, reports will be most demonstrative in January.
The evening statistics from the USA reflected a decrease in the NFIB Small Business Index to 101.4 points from 104 points previously.
Today, the flow of statistics is rather calm, so the market is going by itself and according to outer circumstances.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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