EUR

The Euro and U.S. Dollar Index make an excellent trading pair because of their close and predictable relationship.
The New Zealand dollar will remain in focus after trading on Wall Street ends this evening, as Statistics New Zealand releases the latest growth estimate. The nation’s GDP is expected to have expanded by 0.8% in the fourth quarter of 2017 compared to 0.6% in Q3. If the data beats expectations then the kiwi, which has been outperforming her peers, could further extend its gains.

The USD is going higher, but not against all the currencies; we see it in a strong bullish mode only against the EUR and CHF at the moment.

Monday, October 17 

1:35pm EUR ECB President Draghi Speaks

5:10pm AUD RBA Gov Lowe Speaks

5:45pm NZD CPI q/q

It is going to be a very important week and a half for the Euro/British pound (EUR/GBP) currency pair. The popular currency cross has managed to bounce back after a two-week drop when traders responded to the surprisingly strong improvement in UK data.

The S&P 500 futures are up almost .5% today on more strong economic data out of the U.S. We continue to watch the Russell 2000 futures.

Euro/Aussie dollar (EUR/AUD) currency pair has a very interesting wave pattern for a short-term direction.

The euro/U.S.

After really strong U.S. data on Friday on most FX U.S. dollar-based pairs, we are seeing potential beginnings of the new uptrend. Stock markets are also higher on account of the strong data.

This morning’s data from Europe has been mixed: UK’s inflation figures were surprisingly strong, while a key German economic sentiment survey came in significantly weaker and Eurozone’s construction output shrunk more than expected.