Forex trading news and economic data headlines for the European session 24 October 2016
On another day, in another lifetime, European data, the likes of which we saw today, would have seen a decent price move. Alas we’re still trading central bank decisions and the data doesn’t mean squat in the bigger picture. It didn’t matter that the PMI’s were at multi-month highs or that prices were seen rising across the board at the highest rate for 15 months, Draghi’s message last week is ringing in our ears so the data stands for nothing between now and Dec. As such, EURUSD is up a grand total of 35 pips from the Asia lows and half of that came before the data.