Here are the key factors to keep in mind today for Euro trades:
- German Trade Balance & German Current Account Balance: The German Trade Balance for September is predicted at a €20.0 billion surplus. Forex traders can compare this to the August German Trade Balance of a €15.4 billion surplus. Exports are predicted to increase by 2.0% monthly and imports are expected to increase by 1.0% monthly. Forex traders can compare this August where exports decreased by 5.2% monthly and imports decreased by 3.2% monthly. The German Current Account for September is predicted at a €21.9 billion surplus. Forex traders can compare this to the August German Current Account of a €12.3 billion surplus. Germany is running a surplus in its trade balance, but the global slowdown as well as problems at VW could take a part out of what is predicted for September.
- Eurozone Sentix Investor Confidence: The Eurozone Sentix Investor Confidence for November is predicted at 13.1. Forex traders can compare this to the October Eurozone Sentix Investor Confidence of 11.7. The predicted increase in investor confidence would be a bullish trading signal for the Euro as it may suggest a stronger economy.
- Eurozone Eurogroup Meeting: Forex traders should watch out for any news out of the Eurogroup meeting. The Eurogroup consists of all 19 members who currently have the Euro as their currency and the finance ministers discuss policy across the Eurozone. The Eurogroup meets one day before the Economic and Financial Affairs Council holds its meeting and was initiated with the Lisbon Treaty. The Euro could see a volatile trading session after the press conference.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for November 6th and Swiss Domestic Sight Deposits are predicted near the same amounts which were reported for October 30th were Swiss Total Sight Deposits were reported at CHF467.4 billion and Swiss Domestic Sight Deposits were reported at CHF401.3 billion. Forex traders should watch the Swiss Franc after this single report out of Switzerland will be announced.
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