When we look at today’s macroeconomic calendar, we will immediately see that there will be a lot going on in the markets. We saw a foretaste yesterday where investors probably wanted to predict today’s readings. Apart from those who use illegally obtained information to make transactions. We are starting today’s session with data for France, I do not expect big moves for this reason, but the market will form the basis for the next hours. The red PMI for Germany shows that analysts see the German economy as a worsened situation, so the Dax40 was falling yesterday for a reason. Today, after the DAX40 index, I expect the same, after England enters the market. Unless German neighbors surprise us and the data will be much better than expectations.
Important data for the British pound. However, there will not be a big change here, which may not affect the price itself, I would expect a price change because of the data that the markets are expecting for the USD. US dollar pairs can be highly volatile and strengthen against the US dollar. Yesterday’s session showed us a weakening of the GBP, but the decline may be counted in the correction category before further gains.
I am deliberately not discussing Swiss Frank because not much changes in this market. Switzerland is a stable economy, and assumptions in relation to price movements in tandem with USD should be viewed through the prism of the strength of the dollar, not the weakness of the franc.