A very quiet trading session lies ahead of the main currency pair today; the market is ready for calmness.
The EUR/USD pair is pretty calm and relaxed today. The current quote for the instrument is 1.1727.
The pair is expected to be very inactive. On Monday, the USA are celebrating the Columbus Day, that’s why the vast majority will be off the market.
In the morning, Germany reported on the Industrial Production. The indicator added 2.6% m/m in August after losing 0.1% m/m in July and against the expected reading of +0.9% m/m. On YoY, the indicator expanded by 4.7%, which is very good. The components of the report show that the most contributing numbers were the output for capital goods (+4.8%) and consumer goods (+2.1%).
It’s nice that intermediate goods and the energy improved as well. At any other time, such numbers would support the Euro, but when the market is quite, like today, they will probably go unnoticed.
On the other hand, the Sentix Investor Confidence in the Eurozone increased from 28.8 points in September to 29.7 points in October. The predicted number was 28.6 points.
However, there won’t be any significant movement in the EUR/USD as long as American investors are off the market.
RoboForex Analytical Department