Since the beginning of the month, the euro has been steadily rising in value against the US dollar. It is currently trading over the 1.1600 mark. Despite a decrease the day before, the future releases appear to be on track to be successful. The number of anticipated improvements hampered the EUR/USD currency pair’s route to success.

First, the IHS Markit Economics will release Manufacturing Purchasing Managers Index (PMI) today. Economists predict that it might remain 56.5 this month.

The Markit economics manufacturing PMI measures business conditions in the manufacturing sector. The manufacturing PMI is an indicator of business conditions and the general economic situation in Germany because manufacturing accounts for a considerable portion of total GDP. A result above 50 indicates that the euro is bullish.

Similarly, the Business Climate News from CESifo Group will release on October 25, 202. According to the economist’s forecasts, it will raise its index from 98.8 to 98.6 this month. This Institute surveys over 7,000 companies on their evaluation of the market situation and their short-term planning. A strong economic development foresees bullish EUR movements.

Conclusion

It allows short-term traders to buy it at that level and profit at the highest rate in the coming days, or if they want to keep it for a period, the EUR/USD currency pair will also help them.