OctaFX | OctaFX Forex Broker
Open trading account
Back

Expect weak Euro on weaker Euro data and possible central bank rhetoric – RBS

FXStreet (Delhi) – Nick Mannion, FX Strategist at RBS, suggest that there are more prospects that the EUR weakens versus the USD and GBP on weaker Euro area data and possible central bank rhetoric.

Key Quotes

“European PMI data were also slightly weaker yesterday, and this appeared to help push the EUR lower.”

“Data coming out of Europe continues to point to tepid growth, and German factory orders data this morning was no exception, with the August numbers growing at 1.9% year-on-year versus 5.6% expected by consensus. This undershoot in the data compared to expectations follows a recent dip of inflation data into deflationary territory.”

Canada building permits declined 3.7% in August

The data released by the Statistics Canada on Wednesday showed the total value of building permits decreased 3.7% to $7.5 billion in August, following a revised increases of 15.5% in June and 0.7% in July (revised data).
Read more Previous

USD/CAD toying with 1.30 post data

The Canadian dollar continues to appreciate vs. its American counterpart on Wednesday, now taking USD/CAD to challenge the key support at 1.3000...
Read more Next
Start livechat