The financial community will have a dual focus on Thursday, with a steady stream of economic data is accompanied by fresh commentary from multiple central bankers from Europe and the United States. How will EURUSD move? Let's find out with this 12 October EURUSD Fundamental Expectations Analysis from OctaFX.
12 October, OctaFX - The Thursday session kicks off at 6:45 GMT with a report on French consumer inflation. Headline CPI is expected to come in at 1.1% in the 12 months through September.
Later in the day, the European Commission’s statistical agency will release Eurozone industrial production figures for the month of August. The monthly print is expected to show a gain of 0.5%. That will translate into year-over-year growth of 2.5%, forecasters say.
12 October EURUSD Fundamental Expectations
The euro sprang forward on Wednesday, rising to two-week highs against the greenback. The EUR/USD continued higher overnight, where it came within 12 pips of 1.1900. Markets are in a bullish phase, as prices extend further beyond the 200-day simple moving average (SMA).
At the moment, the EUR/USD faces an initial resistance at the 2 August high of 1.1911. On the opposite side of the ledger, support is located at the 6 October low of 1.1686.
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