The Euro got stabilized. Overview for 24.10.2017

The main currency pair is trading indifferently on Tuesday afternoon; investors are waiting for the ECB meeting.

After falling for a couple of trading sessions, the EUR/USD got stabilized on Tuesday. Investors have already responded to all news published by the moment and right now are in the “energy-saving“ mode. They will need this energy on Thursday, when the European Central Bank will have another meeting, which is expected to provide new decisions and catalysts.

However, it will take place the day after tomorrow. Meanwhile, investors had enough time to analyze Donald Trump’s comments, who said that he was very close to choosing the next head of the Federal Reserve. Investors decided if that was Powell, there wouldn’t be any significant changes made to the regulator’s monetary policy, because Powell was on the same page as Yellen.

The statistics from several European countries and the Eurozone in general didn’t impress investors. The French Markit Manufacturing PMI Flash increased up to 56.7 points in October after being 56.1 points in the previous month. The French Markit Services PMI Flash expanded from 57.0 points in September to 57.4 points this month. The German Markit Manufacturing PMI Flash in October was 60.5 points, which is a bit less than the September reading of 60.6 points. The German Markit Services PMI Flash fell from 55.6 points in September to 55.2 this month.

In the Eurozone, the Markit Manufacturing PMI Flash improved up to 58.6 points after being 58.1 points the month before. The Markit Services PMI Flash lost 0.9 points (from 55.8 to 54.9) in September.

It looks like the statistics includes, apart from everything else, changes in weather.

RoboForex Analytical Department