empty
 
 
08.10.2024 08:27 AM
Hot Forecast for EUR/USD on October 8, 2024

Retail sales in the Eurozone grew by 0.8%, which was only slightly below the forecast of 0.9%. Nevertheless, this is an excellent result after a decline of -0.1%. However, judging by the market's reaction, investors are focused on further strengthening the dollar. Despite the dollar being overbought, no local rebound has occurred, and the market remained stagnant. The formal reason for this was the Eurozone data, which turned out to be slightly worse than expected. But after all, we are talking about sales growth, not a decline. Considering that today's macroeconomic calendar is empty, we will likely see not so much a continuation of the stagnation but rather a slow weakening of the euro.

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In October we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback