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The US dollar is growing alongside with October PPI growth

The US dollar is growing alongside with October PPI growth

27 November 2014, EUR/USD

Euro

The euro again has grown against the dollar. The GDP growth in the 3rd quarter amounted to + 0.1% q/q after a reduction of 0.1% m/m in the 2nd quarter. In the annual comparison the indicator recorded + 1.2% y/y. We expect the Germany import price index as it reflects the inflation situation and the consumer sentiment data in Italy and France. We expect the Germany import prices with decrease -0.3% m/m, -1.5% y/y, the Italians sentiment with a growth, but the French sentiment unchanged. During the euro/dollar declining to the 24th figure we observed the profit-taking fixation on the short positions that led to the pair rebound to the level of 1.2500.

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