Forex. Euro/Dollar (EUR/USD) forecast for today
A strong signal for sellers is that the euro/dollar chart continued to decline, this served as a strong signal to sellers. In case of further strengthening of the US currency, we can expect to reach the support of 1.1168.
The yield of 10-year US Treasury bonds is approaching the recent maximum value, now it is at 1.648%.
According to preliminary data from the US Department of Commerce, GDP for the third quarter increased by 2.1% year-on-year. In the second quarter, the growth was 6.7%. The ministry noted that the decline in growth rates is caused by a slowdown in the increase in consumer spending. Among other reasons, there is also an increase in the number of cases of coronavirus infection, the introduction of new sanitary restrictions and the reduction of some social benefits. According to experts, the growth turned out to be worse than forecasts. They expected GDP to increase by 2.2% year-on-year in the third quarter.
The US is celebrating Thanksgiving today, but trading activity will focus on German GDP for the third quarter. At this time, the GFK consumer climate index will be published in Germany. The minutes of the ECB monetary policy meeting are also in the spotlight.