EUR dropped on facts. Overview for 28.10.2022
At the end of the week, the market major stays under the parity level. The current quote is 0.9999.
The last trading session turned out very active and eventful.
The October session of the European Central Bank ended in the expected increase in the interest rate by 75 base points to 2.00% annual from 1.25% previously. In the comments, the ECB repeated that it would aim at inflation of 2.00% as before.
The market reaction was natural: getting facts at hand, investors hurried to take the profit made on expectations.
The US issued curious reports. The prelim GDP estimation for Q3 showed growth of the economy by 2.6% against the forecast 2.3% and the previous decline by 0.6%. Such a noticeable impulse upwards is a good signal.
Durable goods order volume in September in the US grew by 0.4% but missed expectations. Still, this result partially covered up for the decline from August.
Today investors will keep an eye on the Q3 GDP statistics from France and Germany, as well as personal expenses and earnings of Americans in September.
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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