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Beginning the trading week with a sideways movement around 1.1364, the EUR/USD pair has increased on Thursday to trade at 1.152. The Dollar was soaring at 7 week's lows amid growing doubts whether the Federal Reserve will hike interest rates before the year's end after the latest batch of disappointing US economic data was released. US retail sales increased just 0.1% in September, rising automobile sales offset less expensive gasoline. Core retail sales excluding automobiles and gasoline showed no change, decrease of 0.3% remains. A separate report showed that the producer price index fell 0.5% in September, the largest drop since January. Meanwhile, the US central bank left rates on hold at its September meeting due to concerns over a Chinese slowing economy and its effect on the US market. Nevertheless, at the end of the week the Euro turned lower against, retreating from seven-week highs after the announcement of European Central Bank policymaker Ewald Nowotny who said fresh measures are needed to bolster price growth in the Euro zone region. In a week time, the sentiment on this currency pair changed significantly, as now 60% of traders predict the Euro to gain in value. According to the Berkeley, who supports bullish move "The EUR/USD fell on Friday and retreated 0.35% to 1.1347 in late trade and ended the week 0.18% lower. Today on 19th October it is pulled back to 1.1305 but I think it will get back up to 1.1370-1.1450." However, Daytrader21 supposes that there is still co clear direction for EUR/USD as over the past months the pair has been trading inside a straight forward range.
Concerning, the important economic news, on Thursday, the ECB is to announce its monetary policy decision while the rate announcement will be followed by a post-policy meeting press conference with President Mario Draghi.
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