EURUSD Forecast
After trading as low as1.1699, a new September low, the EUR/USD pair ends Monday with minor losses around the 1.1720 price range. In a risk-averse atmosphere, market participants raced into the greenback, concerned about a likely slowdown in China's economic growth, which could hinder progress in other major economies. The macroeconomic calendar has nothing noteworthy to offer on Monday in terms of statistics.
The August Producer Price Index in Germany was up 1.5 percent month over month and 12 percent year over year, raising moderate concerns about inflationary pressures in the EU. The NAHB Housing Market Index in the United States, on the other hand, rose to 76 in September from 75 the previous month. On Tuesday, the EU will not disclose any key macroeconomic data, however the US will announce August Housing Starts and Building Permits
The August Producer Price Index in Germany was up 1.5 percent month over month and 12 percent year over year, raising moderate concerns about inflationary pressures in the EU. The NAHB Housing Market Index in the United States, on the other hand, rose to 76 in September from 75 the previous month. On Tuesday, the EU will not disclose any key macroeconomic data, however the US will announce August Housing Starts and Building Permits
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