EUR/USD Weekly Forecast: European economy under siege after Trump’s victory

The EUR/USD pair fell for a second consecutive week, bottoming at 1.0495 on Thursday, its lowest in over a year.

Fed eral Reserve Chairman Jerome Powell surprised with a hawkish shift in tone. Eurozone growth-related figures will take centre stage ahead of the next ECB meeting. EUR/USD at risk of falling through 1.0400 as sellers won’t give up. The pair got to bounce at the end of the week, recovering on Friday to settle at around 1.0520. The US Dollar extended its previous week’s positive momentum amid concerns about what the new United States political picture would mean to the global economy.

4 from 13.1 in October. The Eurozone gauge fell to 12.5 from 20.1. Finally, the assessment of the current situation in Germany plunged to -91.4. Other than that, the EU published the second estimate of the Q3 Gross Domestic Product , which was confirmed at 0.4% in the three months to September. On a negative note, Industrial Production fell 2% on a monthly basis in September.

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