© Dukascopy Bank SA
This week the sentiment improved considerably, as almost 54% of all traders, who participated in our weekly Community Forecasts quiz, expect the Euro to rebound, meaning that the single currency possibly reached the point of being too oversold. The data both from the Eurozone and U.S. includes a number of speeches from FOMC members due to upcoming minutes from committee's meeting of the September 16-17, speech of the ECB President Mario Draghi and meeting of G20 finance ministers and central bankers in Australia. Moreover, the data on German industrial production for August was already released worse than predicted on Monday, dropping 5.7%, which had no significant impact on pair's performance. Based on all, the average estimate for EUR/USD currency pair rose to around 1.27 major level for Friday of this week, while the confident majority of all votes is located above the 1.25 level.
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