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The euro rose against the dollar, despite the lack of economic reports . The pair started the trading week higher , recovering from a sharp fall last week at the ECB and the employment report for October on the weakening dollar. This week, we are waiting for a revised eurozone GDP for the 3rd quarter . Experts believe that the GDP for the 3rd quarter . unlikely to cause a significant rally in the euro , since most of the data has already confirmed the potential growth of the GDP . However fletovoe or negative value will be a big surprise that pressure the shares of European banks and the euro . However , the probability of such an outcome is low.
It should be noted that market participants are also waiting for data on industrial production . According to the median estimate of economists in September, the volume of industrial production in the euro area is likely to fall by 0.3 %, compared with the previous month , when it grew by 1%. The report will be presented on November 13.
The Australian dollar continued to decline in the third day Monday. The fall began on a strong report on U.S. employment and intensified on reports that China has cut the target rate of economic growth to 7 % next year . Also on the weekend , data were published in China, according to which it was reported that China's economic recovery is gathering pace , aided by a significant increase in industrial production and exports. Note that this improvement offset fears that the ongoing economic restructuring may further inhibit growth.
The National Bureau of Statistics said on Saturday that China's industrial production rose in October by 10.3 percent year on year, which was slightly faster than the 10.2 percent increase seen in September. We also add that production rose by 9.7 percent during the first ten months of this year. In addition, it was reported that retail sales growth in October was significant, but at the same level, while 13.3 percent. In January -October sales were up 13 percent compared with the same period last year, said the National Bureau of Statistics.
The data also showed that investment in fixed assets rose in October by 20.1 per cent per annum , compared with an increase of 20.2 per cent per annum in the previous month .
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