Forex. Euro/Dollar (EUR/USD) forecast for today
The euro/dollar exchange rate has gone beyond the downward trend of early September – this is a strong signal to buyers. The news background is not yet in favor of the US currency. The volume of US industrial production for September came out worse than forecast and worse than the previous value. The indicator published by the US Federal Reserve serves as a leading indicator of employment in the manufacturing industry, average earnings and personal income. Trading is also influenced by the latest signals from the US Federal Reserve about tightening monetary policy.
The yield on 10-year US Treasury bonds is approaching its recent maximum, now at 1.610%.
At the beginning of the week, the Statistical Office of the European Union published construction volumes for August, they decreased by 1.3% compared to the previous month, when the growth rate was 0.1%.
The euro/dollar exchange rate will show an increase in trading activity against the background of the release of statistics. Today, the Statistical Agency of Germany announces the producer price index. Eurostat will present inflation indicators, including the basic and basic consumer price indices. The US Energy Information Agency will release a weekly change in crude oil inventories.