- In the Economic Calendar of today, we can expect some volatility in the EUR
- At 12:00 (GMT) the Eurostat (The statistical office of European Union) will announce the Gross Domestic Product of the last quarter
- That number measures the total value of all goods and services produced by the Eurozone
- The result is expected to remain the same as the last quarter, at 0.1%
- Yesterday, the National Statistical Office of Canada announced that the Building Permits fell to 4% from 9.9% since last month.
- US Stock Indices (Dow Jones, Nasdaq, S&P) yesterday fell more than 7.30% respectively while VIX bounced up 29.8%
- UK FTSE 100: -7.5%
- DAX 30: -7.9%
- ITALIAN MIB: -11.10%
- Euro Stoxx: -7.96%
- Spanish IBEX: -9.96%
On the charts:
- The USD/CNY price is at 6.94
- Price is below its 20 days Moving Average
- Momentum is bearish, since ROC (6 periods) and MACD are both below 0
- If the price remains below the green resistance line, at 6.96, we may see the price moving to the downside, to 6.90 or lower at 6.84
Source : FXGM Investment Research Department / Bloomberg