Check out today's EURUSD Forex Signal- forextrade forextrading
It rose to a high of 1.0360, which was the highest level since August 11 after the dovish statement from Fed officials. The pair has risen by over 8% from its lowest point this year.The EUR/USD price has been in a strong upward trend in the past few days. This rally continued after the European Union published strong industrial production data. According to Eurostat, production rose by 0.9% in September even as energy prices continued..
The next key data to watch will be the first estimate of European GDP data scheduled for Tuesday morning. Economists expect the data to show that prices avoided a recession narrowly in Q3. They expect the data to show that the economy expanded by 0.2% in Q3 leading to a YoY increase of 2.1%. “I think what’s really important to emphasize is we’ve done a lot but we have additional work to do both on raising rates and sustaining restraint to bring inflation down to 2% over time.”
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