EUR is confident. Overview for 09.11.2023

The main currency pair is poised for growth on Thursday. The current EURUSD exchange rate stands at 1.0710.

There is almost no significant data from the US in this week's macroeconomic calendar, but the eurozone continues to publish statistics. Retail sales in the region dropped by 0.3% m/m in September after falling 0.7% earlier. This is due to relatively high prices in the eurozone, despite the European Central Bank's intensified fight against inflation.

While there is no other information, investors are paying a lot of attention to the situation in Germany. The fact that the German economy has lost its status as the eurozone's locomotive has long been no surprise. What is noteworthy is that the decline in a number of sectors due to unsolvable problems leads to the traditional conclusion that taxes need to be raised. This is now the focus of market attention.

In his speech yesterday, the chair of the US Federal Reserve Jerome Powell did not touch upon monetary policy issues.