Wednesday, October 24, 2012

Forex - Economic News & Data Outlook - October 24, 2012

Forex - Economic News & Data Outlook - October 24, 2012


EUR/USD consolidates below $1.3000. The single currency remains under pressure ahead of today’s important economic releases.
Reports today are forecasted to show manufacturing and services industries in the euro area contracted for nine months in a row (figures remain below 50). Note that only the German services PMI is expected to register a 50 reading for the first time in three months. German Ifo business confidence in October is forecasted to remain close to the lowest level since February 2010 (cons.: 101.5; prev.: 101.4). Read more