The euro is kept in the range

November 21, 2014

The main currency pair is trading within the rigid frames of the range and does not respond to the statistics today.

The euro/dollar remains within the usual "outset", and today it will hardly go beyond the durable channel. Daily statistics have passed as if unnoticed by the investors – either there was no strength to respond, or the market participants are hoarding power before next week.

Today it became known that the growth of business activity in the private sector of the euro zone slowed in November to a minimum of 16 months. According to calculations by Markit Economics, the consolidated activity index fell to 51.4 points from 52.1 points in October. The median forecast, meanwhile, was 52.3 points. In the components of the report the preliminary index of purchasing managers in the services sector can be traced - the indicator is informative enough by itself. The index fell to 50.4 points from the previous 50.6 points. The reduction in PMI data signalled that the business is trying to implement any attempt to increase, but it doesn’t turn out in the best way.

According to the expectations from Markit, the euro zone GDP will add 0.1-0.2% in the fourth quarter. Perhaps that is why investors in the euro/dollar pair are strenuously pretending not to notice the statistics.
RoboForex Analytical Department

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