Germany economy may support EURO

Early morning today stock markets in Asia may open mixed as investors are waiting for industrial production in China at 09.00 a.m. In my opinion, Shanghai and Hong Kong market may open lower as the forecast of industrial production is lower than October last year. However, if the actual data hit expectation or higher than 6.3%, it may support the rising of Asian markets. But if it’s lower than 6.3%, it may become negative for Chinese stock market.
Brexit is still into the investors’ consideration while rising inflation also issues. UK CPI at 16.30 may effect currency. In my view, the lower CPI maybe better for UK now. Moreover, the speech of Bank of England’s head at 17.00 may give some signal for the next meeting with EU.
Today good economy in Germany may support euro to edge higher. GDP at 14.00 and economic sentiment at 17.00 in Germany are predicted better so these factors may give positive for euro. If Germany’s GDP reach 0.6% and economic sentiment reaches 20.0 or both are higher than expected, euro may rise up. On the other hand, if the fact is worse than forecasting, euro may fall.
In my opinion, euro may move sideways up as U.S. PPI (20.30 GMT+7) in October forecasted lower than September. Bitcoin Gold launched on Sunday but the value jumped to 500$ before it came in the market. After launching, BTG price drop down to 180$-240$. Today it may try to rise up.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade

Olymp Trade Review