Dear ,

As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.

EURUSD Analysis

Performance after Tuesday
Period Pct Chg Momentum
Tuesday -0.19% -20.9 Pips
Week to-date -0.36% -38.8 Pips
October -2.24% -250 Pips
Upcoming key events (London Time)

Thu 01:15 PM EUR ECB Interest Rate on main refinancing operations (MRO)
Thu 01:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

In the United States, the New York Empire State Manufacturing Index experienced a significant decrease in October, falling to -11.9 points from 11.5 points in September. This data, sourced from the New York Fed, suggests a notable downturn in manufacturing activity within the region, indicating potential economic challenges ahead for the U.S. manufacturing sector.

Moving to the Euro Area, the ZEW Survey reported a rise in Economic Sentiment for October, increasing to 20.1 points from 9.3 points in September, as per ZEW reports. This improvement demonstrates growing optimism regarding economic conditions within the Euro Area, potentially indicative of greater economic stability. Additionally, the Euro Area Industrial Production, according to Eurostat, saw a positive shift in August with an increase of 1.8% from a previously revised -0.5% in July, further highlighting a recovery in industrial activities.