The major currency pair is waiting for the news and moving pretty calmly early in another November week.
On Monday, EURUSD is barely moving; investors are still waiting for the news relating to the US-China trade talks. The current quote for the instrument is 1.1025.
According to Bloomberg, last weekend “China said it will raise penalties on violations of intellectual property rights in an attempt to address one of the sticking points in trade talks with the U.S.” Market players liked this piece of news: it means that the parties are ready to discuss and solve one of the most topical issues in their trade wars. However, there was nothing more, that’s why public markets are quiet once again.
The statistics published by the USA last Friday were in favor of the USD. The Markit Manufacturing PMI increased up to 52.2 points in November after being 51.3 points the month before. The Markit Services PMI went from 50.6 points in October to 51.6 points this month. Both improvements are very good, but one should remember that the official numbers are usually a little bit worse.
The Revised University of Michigan Consumer Sentiment was 96.8 points in November against 95.7 points in the previous month and the expected reading of 95.8 points. The indicator stability is very important for the assessment of future demand.
Today is going to be rather neutral for the major currency pair. It’s highly unlikely that there might be any news relating to trade talks, while the macroeconomic calendar is quite empty.
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.