EURUSD Fundamental Drivers Outlook

Apart from reports on data releases, the 6 December EURUSD Fundamental Drivers Outlook mentions the sharp drop of the Euro against the Dollar.

6 December, OctaFX – The EURUSD pair dropped lower over the last 24 hours but for unknown reasons. The euro was usually weak across the board and though there was not much strength in the dollar, it was usually steady and this was enough for the pair to drop lower in trading on Tuesday.

Action begins with a report on German factory orders. Orders for manufactured goods are forecast to fall 0.3% in October, following a 1% increase the month before. However, that should still be good enough for a year-over-year gain of 7%.

Later in the morning, Switzerland will release the November consumer price index (CPI), a key barometer of inflation. CPI is forecast to flatline in November, translating into a year-over-year growth of 0.9%.

On the monetary policy front, European Central Bank (ECB) official Yves Mersh is scheduled to deliver a speech at 10:30 GMT.

6 December EURUSD Fundamental Drivers Outlook

The euro made another sharp down move against the dollar on Wednesday, with prices falling 0.6% to 1.1830. The pair is showing weakness below 1.1840, putting it on a collision course with the 1.1800 support level. On the flipside, resistance is found at 1.1900.



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