The 5 December EURUSD Fundamental Outlook shows the EUR/USD falling further below the 1.1900 handle. What could dictate where this pair ends up in the short run? Find out here.
5 December, OctaFX – The dollar edged higher against the Euro yesterday, as political events take the spotlight this week. US factory orders came in stronger than anticipated, providing the dollar a boost, while softer than expected sentiment in Europe weighed on the EURUSD pair.
A deluge of economic data will make headlines on Tuesday, with the Eurozone region set to take primacy. Action begins early and will continue for the rest of the day leading into the North American session.
IHS Markit will release several PMI reports beginning at 08:15 GMT. The research institute will report on Germany, France, Italy and the 19-member Eurozone through a series of service and composite PMIs. Markit will also report on British PMI early on Tuesday.
The European Commission’s statistics agency is also scheduled to release the latest Eurozone retail sales numbers at 10:00 GMT. Receipts at retail stores are expected to fall 0.7% in October.
5 December EURUSD Fundamental Outlook
Europe’s common currency slipped at the start of Tuesday trading, with the EUR/USD falling further below the 1.1900 handle. The pair was last seen trading at 1.1874 and faces immediate resistance around 1.1930. A deluge of economic data later in the week could dictate where this pair ends up in the short run.
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