German consumer confidence increased slightly but doesn’t lead to great confidence as consumers gear up for a holiday shopping spree. The Italian non-EU trade balance came in well above the previous month’s surplus and shows that while Italy may struggle inside the Eurozone, it performs well outside of it. The EURUSD remained well supported after the release of today’s light economic reports, how will price action be impacted following the release of US data? Today’s fundamental analysis will take a look at price action in both directions.

Forex traders will get a heavy dose of minor economic reports out of the US today. The trade deficit is expected to expand, but an improvement in the housing sector is anticipated. Together with a rise in consumer confidence and Black Friday ready to start the holiday shopping season in the US, the mood has grown increasingly more confident. The Richmond Fed Manufacturing Index will slide into focus after yesterday’s Chicago and Dallas reports showed converging reports. How will the EURUSD react after the release of today’s data? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.