The Euro Awaits Indicator of Consumer Confidence
The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
All attention to Euro
EU Flash Manufacturing & Services PMI will come out on Friday at 11:00 MT time!
Instruments to trade: EUR/USD, EUR/JPY, EUR/CAD
There are two versions of the PMI report: Flash and Final. Flash is the earliest one and thus tends to have more impact. If this indicator comes above 50.0, it signals the industry expansion, below – contraction. Besides, on Friday French and German PMIs will be released. Since Germany has the largest economy in Europe, it will be closely watched by investors as well. New coronavirus cases are steadily rising in the Eurozone and in some parts the numbers have even reached fresh records. That’s why countries may impose new restrictions, which will dampen economic activity and slow down the recovery.
- If PMI is greater than the forecast, the EUR will surge.
- Otherwise – fall.
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