The EUR had one of its worst days in a while on Wednesday as it found itself under a risk adverse cloud. There was little in the way of data from Europe yesterday and safe haven trading seemed to rule the day as international equity markets started to reflect the negative day on Wall Street. Today Industrial Production figures will be published and the estimate carries an anticipated gain of 0.7%. However, the EUR may likely continue to find much of its movement coming on the heels from sentiment being generated from across the Atlantic because of the two rather important days of data coming from the States to close out the week. Traders still may control this marketplace and participants must be aware of emotions that are rising and falling quickly. Short term range trading will likely continue to be tested today and tomorrow.
Written by bforex.com