empty
 
 
25.10.2024 08:17 AM
Hot Forecast for EUR/USD on October 25, 2024

The excessive overbought condition of the dollar has indeed impacted the market, as the single European currency managed to show some growth despite the preliminary estimates of business activity indexes. The composite business activity index in the Eurozone rose from 49.6 to 49.7 points, although the forecast was for 50.1 points. This outcome was due to the services activity index, which fell from 51.4 to 51.2 points, whereas an increase to 51.7 points was expected. However, some support came from the manufacturing activity index, which increased from 45.0 to 45.9 points, exceeding the anticipated rise to 45.2 points.

More notable is that the single currency demonstrated slight but consistent growth, even in the face of similar data from the United States, which exceeded forecasts. Specifically, the manufacturing activity index in the U.S. rose from 47.3 to 47.8 points instead of the expected increase of 47.6 points. The services activity index, expected to decline from 55.2 to 55.0 points, actually grew to 55.3 points. As a result, the composite activity index climbed from 54.0 to 54.3 points despite predictions that it would remain unchanged.

Thus, market behavior indicates that the potential for dollar growth is exhausted, at least for now. The dollar's overbought condition has remained, so expecting a sustained rise in the euro seems reasonable.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $5000 más!
    ¡En Noviembre, sorteamos $5000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback