Home Trending Stocks Euro Zone Macroeconomic Indicators Backed The Euro Against the Dollar

Euro Zone Macroeconomic Indicators Backed The Euro Against the Dollar

On Tuesday, November 3, the European currency strengthened against the US dollar by 0.13%, trading at 1.16540. Yesterday, the EUR/USD exchange showed a close to zero change, closing at 1.16438.

December DXY dollar index futures are down 0.16% on Tuesday, at 93.990, after gaining 0.02% a day earlier.


The 2021 Backdoor Crypto Portfolio (free)

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.

Sponsored


The Euro was supported by quite good statistics on the EU. For example, in Germany and the Eurozone, the final data on the indices of business activity in the manufacturing sector for October were released yesterday. In Germany, the indicator came out at 58.2 points compared to 56.4 points a month earlier, which was 0.2 points higher than the preliminary estimate. At the same time, this PMI index reached its highest value since December 2017. In the Euro area, the indicator increased by 1.1points, to 54.8 points, which was the highest value since July 2018. Thus, the manufacturing sector in the EU was less affected by the coronavirus pandemic compared to the services sector and continues to show a strong recovery.

However, in the US, the index of business activity in the manufacturing sector showed a more modest increase in October with 0.2 points, to 53.4 points, while the preliminary estimate was 53.3 points. Also yesterday, the States released data on indexes for new orders in the manufacturing sector. At the end of October, this indicator increased by 7.7points, to 67.9 points, reaching the maximum value since September 2018. However, data on construction spending in the US came out worse than the consensus forecast: the indicator increased in September by 0.3% m/mcompared to an increase of 0.8% m/m a month earlier, while analysts expected growth of 1.0% m/m. Nevertheless, the overall trend in macro indicators in the United States remains positive, which helped to return optimism to global financial markets.

Today, the focus of investors ‘ attention will be on the US presidential election, and tomorrow, after the announcement of the voting results, we can expect a significant increase in volatility. In addition, data on the volume of industrial orders and orders for September will be published in the States on Tuesday.

The EUR/USD chart is consolidating near the 1.16500 level. Stochastic lines are in the oversold zone in a favorable position for purchases, which speaks in favor of growth for the instrument in the short term.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

For What Reason, Bemax Inc (BMXC) Stock Climbed 5%?

A stock of Bemax Inc surged 5.41% in the last session, closing at $0.0039. The 30-day average volume for the stock was 204.32M...

Why R. R. Donnelley (RRD) Stock Trading Higher In Pre-Market Trades? Here Is The Reason

R.R. Donnelley & Sons Company (RRD) stock has been surging 37.92% pre-market to $3.31 as of 08:18 a.m. EST, following the release of the...

Why Stock of MediaTechnics Corporation (OTC: MEDT) Skyrocketed 133%?

MediaTechnics Corporation (OTC: MEDT) skyrocketed +133.33% on Tuesday to close the trading at $0.0021. Per the week, the stock gained 50%, while for the...

Want to know about the Top 3 biotech stocks for 2021? Let’s find out

A technology to create and develop different products by using the biological systems, living organisms, and parts of this is called ‘Biotechnology’. A product...

Why Medifirst Solutions (MFST) Skyrocketed 159% on Monday? Here Is the Explanation

Medifirst Solutions Inc (OTC: MFST) stock skyrocketed on Monday recording a rise of 159.46% to $0.0096 at the previous close. Last week, the stock...

For What Reason, Bemax Inc (BMXC) Stock Climbed 5%?

A stock of Bemax Inc surged 5.41% in the last session, closing at $0.0039. The 30-day average volume for the stock was 204.32M...

What Is Driving Salarius Pharmaceuticals, Inc. (SLRX) Stock Up In Pre-Market Session?

Shares of biopharma company Salarius Pharmaceuticals, Inc. (SLRX) have been rising +16.58% to $2.25 (as of 09:07 a.m. EST) before the start of the...

Why R. R. Donnelley (RRD) Stock Trading Higher In Pre-Market Trades? Here Is The Reason

R.R. Donnelley & Sons Company (RRD) stock has been surging 37.92% pre-market to $3.31 as of 08:18 a.m. EST, following the release of the...

Related News

For What Reason, Bemax Inc (BMXC) Stock Climbed 5%?

A stock of Bemax Inc surged 5.41% in the last session, closing at $0.0039. The 30-day average volume for the stock was 204.32M...

Why R. R. Donnelley (RRD) Stock Trading Higher In Pre-Market Trades? Here Is The Reason

R.R. Donnelley & Sons Company (RRD) stock has been surging 37.92% pre-market to $3.31 as of 08:18 a.m. EST, following the release of the...

Why Stock of MediaTechnics Corporation (OTC: MEDT) Skyrocketed 133%?

MediaTechnics Corporation (OTC: MEDT) skyrocketed +133.33% on Tuesday to close the trading at $0.0021. Per the week, the stock gained 50%, while for the...

Want to know about the Top 3 biotech stocks for 2021? Let’s find out

A technology to create and develop different products by using the biological systems, living organisms, and parts of this is called ‘Biotechnology’. A product...

Why Medifirst Solutions (MFST) Skyrocketed 159% on Monday? Here Is the Explanation

Medifirst Solutions Inc (OTC: MFST) stock skyrocketed on Monday recording a rise of 159.46% to $0.0096 at the previous close. Last week, the stock...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get The Best Stocks To Trade Every Day!...100% Free

We do not sell or share your information with anyone.

Get Best Morning Financial Newsletter... 100% Free

Best stocks ideas

Analysts’ Upgrades & Downgrades

Insider Watchlist

Important Earnings

We do not sell or share your information with anyone.