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EUR/USD Daily Forecast – 09 December

Euro spent most of the yesterday's session in an uptrend, after it found area around 1.08 handle to be supportive on Monday, and tested 1.09 handle as a resistance. It seems that euro will now spend some time in consolidation range between 1.08 and 1.10 handle, especially since there will be no major data releases tomorrow as well. Read more...

Eurozone GDP rose by 0.3% Q3

Seasonally adjusted GDP rose by 0.3% in the euro area (EA19) and by 0.4% in the EU28 during the third quarter of 2015, compared with the previous quarter, according to a second estimate published by Eurostat, in line with market focasts. In the second quarter of 2015, GDP grew by 0.4% and 0.5% respectively. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.6% in the euro area and by 1.9% in the EU28 in the third quarter of 2015, the same as in the previous quarter. 
 
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NAB Business Confidence edged higher

The NAB Business Survey is showing encouraging resilience in the nonmining sector recovery, as business conditions hold-up at well above average levels. Business confidence recouped some of last months decline, but remains somewhat subdued in light of the persistent strength in business conditions. The confidence index rose to +5 index points, which is still marginally below the long run average.

EUR/USD Daily Forecast – 08 December

From Eurozone, yesterday, only minor importance German Industrial Production and Sentix Investor Confidence figures were released. In October 2015, production in industry was up 0.2% from the previous month on a price, seasonally and working day adjusted basis according to provisional data of the Federal Statistical Office (Destatis). Analysts were anticipating 0.8% increase. In September 2015, production in industry decreased by 1.1% on August 2015, thus confirming the provisional result published in the previous month. Read more...

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