Throughout the first day of the new week EURUSD remained consolidated at the levels of 1.0960/85.
Today at 6 o’clock GMT we expect data on Industrial Production for the month of August in Germany, with expectations for a growth of 0.8% compared to the previous month, where we had a drop of -2.4%.
The Eurogroup Meeting is another key event of the day that is likely to have an impact on currency markets.
A little later in the day, however, the Bank of New Zealand is expected to cut interest rates more aggressively by 0.5% following the new trend of interest rate cuts around the world.
From World-Signals.com, we expect a slight strengthening of the Euro, but it is very likely that the downward trend will continue towards the end of the week. Bet on a strategy to sell on slight bounces up to 1.1010+ with daily gains of 20-35 pips or short positions with bigger gains towards the end of the week.
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