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EURUSD trading near 1.10 ahead of German figures

EURUSD trading near 1.10 ahead of German figures

EURUSD after facing minor losses from yesterday’s trading, the pair is picking up above 1.10 level. Also, traders have been focusing on the German ZEW survey coming up next. Here is the EURUSD fundamental outlook for 15 October. 

October 15, 2019, | AtoZ MarketsThe EURUSD pair saw minor looses on the first day of the week. Looking at the charts, the overnight price movement might still be seen as consolidative. Last week the EURUSD pair moved beyond the psychological mark near the key resistance of 1.10 level.

Below are some of the fundamental factors that might have an effect on EURUSD.

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EURUSD Fundamental Outlook

Even after having a positive outcome from US-China trade negotiations which has created a caution for the global markets, the USD is still leading the race. From the economic data, the Euro industrial production jumped 0.4% on a monthly basis in August. The figures dropped 2.8% during the reported month, which was larger than expected.

On Monday, Vice-president of ECB, Luis de Guindos addressed that he does not expect the European economy to face recession. He also quoted that the positive turn on the US-China trade deal was a piece of good news.

EURUSD pair finally ended the day with minor losses. Now, the traders have been eyeing on the German Zew survey, which might be the biggest factor for EURUSD fluctuations. The Economic Sentiment Index predicted to fall further to -27.3 in October from -22.5 previous. Moreover, the Current Situation Index is also expected to decline further to -26 from September’s reading of -19.9.

Later on, during the early North-American session, the release of the US Empire State Manufacturing Index might further collaborate towards producing some short-term trading opportunities for the EURSD pair.

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Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.