German Data Critical for Forex Day Trading

The start of this week appears to promise a stable period as investors look forward to key data points coming out soon. Most importantly, there will be valuable data coming from central bank meetings on policy and macroeconomic indicators. The key market to look at will be Germany. The country’s GDP data will be coming for the third quarter alongside the CPI data for October. Investor decisions will rely heavily on these data points for forex day trading.

The dollar has been stable, neither moving up nor down in value this last Friday, as the dollar index showed. This is largely due to data coming from the PCE Price Index from the US, indicating that market performances were in line with expectations. However, we should note that it did slightly outdo the levels that analysts anticipated. This Monday, we see the index is largely still within this range, being around 106.5. It helps that Treasury yields have lowered for now, being under the 4.9% mark. In response, investors are expecting the Fed to announce their decisions soon on interest rates.

Stable Major Currencies and Key Best Forex Signals Data

The dollar’s performance against several major currencies was also mostly stable due to good data from the best forex signals.

For example, the EUR/USD rate changed little the previous week and is now opening at 1.0550. This is pretty close to the original value, so there is little change in terms of forex pips.

The GBP/USD was also moving sideways this Friday, closing at around 1.2100. However, it did edge up slightly higher and is now trading at around 1.2150 as of this Monday.

There was some shift in the AUD/USD and NZD/USD rates, which both increased. In terms of forex day trading, the first rose up to 0.6360 this Monday and the second to 0.5835, both appreciating by 0.4% overall. The key data points to keep track of these currencies will be coming from China.