The Euro is keeping balance. Overview for 24.10.2019


On Thursday, EURUSD remains stable; it is still waiting for the news. 

The major currency pair is quite inactive on Thursday morning – there will be a busy day ahead. The current quote for the instrument is 1.1135.

The statistics published yesterday showed that the Consumer Confidence in the Euro Area deteriorated and was -8 points in October after being -7 points in the previous month. It’s not good news for the European currency, but not surprising at the same time.  

There will be a lot of October numbers from Europe today, such as the Manufacturing and Services PMIs from Germany, France, and the Euro Area itself. All reports are preliminary and barely expected to have any influence on the major currency pair. However, they may provide insight into what is currently happening in the region. 

In the afternoon, the European Central Bank is scheduled to have another meeting. Everything has already been said, but the regulator’s comments might be interesting.

Later in the afternoon, market players should pay attention to the September Durable Goods Orders report from the USA, which is expected to show -0.5% m/m after adding 0.2% m/m the month before. The indicator is extremely volatile and changes all the time, that’s why one should carefully read the components of the report even if the numbers are weak. 

Apart from this, the USA is going to report on the New Home Sales in September, which may drop from 713K to 710K. This decline is not critical and can be easily explained by the current imperfect situation on the real estate market.


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.