EUR impacted by German Consumer Confidence
Germany's GfK Consumer Confidence Index for November was released below expectations.
Share this:
Earlier this morning, Germany's GfK Consumer Confidence Index for November was released at -3.1, below -3.0 expected. Later today, the European Commission will post October Consumer Confidence Index (-15.0 expected).
From a technical point of view, on a 30-min chart, EUR/USD has broken below rising trend line and stands below its 50-period moving average (in blue). Readers may therefore consider the potential for further weakness below 1.1865. The nearest threshold would be set at previous overlap at 1.1835 and a second one would be set at horizontal support at 1.1815.
Source: TradingView, GAIN Capital
Earlier this morning, Germany's GfK Consumer Confidence Index for November was released at -3.1, below -3.0 expected. Later today, the European Commission will post October Consumer Confidence Index (-15.0 expected).
From a technical point of view, on a 30-min chart, EUR/USD has broken below rising trend line and stands below its 50-period moving average (in blue). Readers may therefore consider the potential for further weakness below 1.1865. The nearest threshold would be set at previous overlap at 1.1835 and a second one would be set at horizontal support at 1.1815.
Source: TradingView, GAIN Capital
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
RBA delivers 25bp hike, Bullock now the main event
The RBA delivered the expected 25bp hike, but Bullock’s press conference now looms as the bigger volatility risk for AUD/USD and the ASX 200.
EUR/USD, USD/JPY Outlook: Oil, yields and an FX identity crisis
Crude oil is setting the tone across rates and FX, leaving EUR/USD vulnerable and USD/JPY caught between higher Treasury yields and the growing threat of intervention
AUD/USD Analysis: What's Next for the Australian Dollar After the RBA Decision?
Recent trading sessions have reflected a more neutral tone around the Australian dollar. This can be seen in AUD/USD price action, which has posted moves of roughly 0.2% over the last two sessions without establishing a clear direction. Much of this lack of momentum is linked to expectations surrounding the next policy moves from both the Reserve Bank of Australia (RBA) and the Federal Reserve.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.