EUR / USD. Forecast for November 23, 2012

Written by Tim T.

Index of business activity in the euro zone yesterday came out better than expected. German PMI Manufacturing showed an increase to 46.8 against expectations of 45,9, PMI France 44,7 vs 44,1, PMI Eurozone 46,2 vs 45,6.

Index of business activity in the euro zone yesterday came out better than expected. German PMI Manufacturing showed an increase to 46.8 against expectations of 45,9, PMI France 44,7 vs 44,1, PMI Eurozone 46,2 vs 45,6. Spain yesterday, which is located 3, 5 and 9-year bonds for a total amount of 3.88 billion euros at yields lower than previous auctions, the yield on 10-year government bonds in Spain again went to decline: from 5.94% on November 14 up to 5.65% yesterday.
Today is the final day of the EU summit.
At 11:00 MSK published German GDP for the 3rd quarter in the final assessment (forecast 0.2%), at 13:00 - the index of business sentiment in Germany in November, is expected to 99.6 vs. 100.0 in October. The current conditions index IFO Germany 106.3 vs. 107.3 expected, the expectations index 93.0 vs 93.2. Retail sales in Italy are expected in September 0.3% vs. 0.0% in August.
Technically, the price stood at resisting the downward trend line daily scale in the case of penetration possible further rise to 1.2943, but the external background, especially the likely end of the EU summit without agreement on the budget and the reduction indexes IFO Germany, leaned more toward correction. In the case of fixing prices below on the four supports graphics 1.2866, target 1.2808 opens.

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