On Tuesday afternoon, the main currency pair is growing based on the publication of European statistics.
The euro rises in price on Tuesday afternoon. The current quote in the EUR/USD pair is 1.0596. This afternoon a massive block of macroeconomic statistics came out and the market has already priced in the data.
The index of business activity in the manufacturing sector in November in the euro area was in line with expectations and amounted to 52.8 points. A similar report in Germany showed the value of 52.9 points vs. the expectation of 52.6 points. The French November release showed the value of 50.6 points while waiting for 50.8 points.
Unemployment in Germany fell for the last month and amounted to 6.3% vs. the expected 6.4%. The euro zone has also presented a summary report on the labour market. Here, the unemployment rate fell to 10.7% against the previous level of 10.8%, and the same expectations.
Actually, the euro/dollar rose on these statistics. Today, investors will still be an occasion to be active – in the evening, the US is publishing an interesting report. However, the serious movement in the markets will begin on Thursday.
On Tuesday, the main currency pair will be within the range of 1.0545-1.0629.
RoboForex Analytical Department